The Thai SEC accuses OKX of violating the country's digital asset regulations

ChainCatcher news, according to Finance Feeds, the Securities and Exchange Commission (SEC) of Thailand has officially filed a complaint against the cryptocurrency exchange OKX, accusing it of violating the country's digital asset regulations.

The lawsuit states that OKX conducted digital asset business in Thailand without obtaining the necessary licenses, violating the provisions of the 2018 Digital Asset Business Act. The Thai SEC indicated that OKX failed to implement adequate investor protection measures, including inadequate customer identification (KYC) and anti-money laundering (AML) protocols, and also failed to fulfill mandatory regulatory reporting obligations.

Reports suggest that if the violation allegations are confirmed, OKX may face fines, trading restrictions, or even a complete ban on operations in Thailand.