TechFlow news, March 31 — According to Finance Feeds, Thailand's Securities and Exchange Commission (SEC) has filed a lawsuit against cryptocurrency exchange OKX, accusing it of violating the country's digital asset regulations.
The lawsuit alleges that OKX conducted digital asset business in Thailand without obtaining the required licenses, breaching provisions of the Digital Asset Business Act of 2018. The Thai SEC stated that OKX failed to implement adequate investor protection measures, including insufficient Know-Your-Customer (KYC) and Anti-Money Laundering (AML) protocols, and also neglected mandatory regulatory reporting obligations.
It was reported that if the violations are proven, OKX could face penalties including fines, trading restrictions, or even a complete ban from operating in Thailand.
