Thai Financial Watchdog Asks Local Crypto Exchange to Fix Issues After Three Massive Outages
The Securities and Exchange Commission of Thailand (SEC) issued an order against a local cryptocurrency exchange to temporarily stop its operations. Bitkub has been in the headlines since the start of the year due to several outages suffered in their systems.
Crypto Exchange Suffered Three Massive Outages Since the Beginning of 2021
According to Bangkok Post, the financial watchdog gave the exchange five days, starting January 20, to solve all the technical issues. Mainly, their desktop trading platform suffered three outages since January 2.
The other incidents happened on January 3 and 16, said the local media outlet. One of the reasons behind the rising number of outages is the spike in crypto prices, specifically in bitcoin (BTC). In consequence, Bitkub couldn’t handle trading volumes, stated a source quoted by Bangkok Post.
Hong Kong and Thai securities regulators have signed an agreement paving the way for the launch of a cross-border fund distribution scheme between the two jurisdictions.
The Mutual Recognition of Funds (MRF) will allow locally-domiciled funds in Hong Kong and Thailand to be distributed in each other’s markets. It’s scheduled to be launched within six to 12 months.
The agreement “establishes a framework for exchange of information, regular dialogue as well as regulatory cooperation in relation to the cross-border offering of eligible Hong Kong and Thai funds”, Hong Kong’s Securities and Futures Commission (SFC) and the Securities and Exchange Commission of Thailand (SEC) say in a joint statement on January 20.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Monaker Group Increases Indirect Ownership of Entity Which Controls Longroot ICO Crypto Portal .
Monaker Group, IncJanuary 7, 2021 GMT
WESTON, FL, Jan. 07, 2021 (GLOBE NEWSWIRE) via NewMediaWire Monaker Group, Inc. (NASDAQ: MKGI), an innovative technology company, today announced that, in exchange for a capital contribution, it has increased its indirect ownership stake to 75% in the entity that controls the Longroot initial coin offering (ICO) portal, Longroot (Thailand) Limited (“Longroot”). The additional capital is planned to be used to expand Longroot’s staff, operations, technology platforms and reporting capabilities. Longroot is currently one of only three ICO portals Licensed and Regulated by the Securities and Exchange Commission of Thailand, allowing it to provide financing, and investment services for digital assets to companies globally.
Press release content from NewMediaWire. The AP news staff was not involved in its creation.
Monaker Group Increases Indirect Ownership of Entity Which Controls Longroot ICO Crypto Portal To 75%
Monaker Group, IncJanuary 7, 2021 GMT
Monaker Group, Inc
Monaker Group, Inc
Weston, FL - ( NewMediaWire ) - January 07, 2021 - Monaker Group, Inc. (NASDAQ: MKGI), an innovative technology company, today announced that, in exchange for a capital contribution, it has increased its indirect ownership stake to 75% in the entity that controls the Longroot initial coin offering (ICO) portal, Longroot (Thailand) Limited (“Longroot”). The additional capital is planned to be used to expand Longroot’s staff, operations, technology platforms and reporting capabilities. Longroot is currently one of only three ICO portals Licensed and Regulated by the Securities and Exchange Commission of Thailand, allowing it to provide financing, and investment services for digital assets to companies