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Siam Commercial Bank (SCB), Thailand's oldest lender, announced on Aug 25 the collapse of its acquisition offer for 51% of the shares of Bitkub Online Co (Bitkub) from Bitkub Capital for 17.8 billion baht, citing regulatory issues. ....
This year has been packed with events that highlighted both progress and setbacks unavoidable realities in the world of business. The year posed challenges for the government and businesses seeking new opportunities post-pandemic, sparked hope among car makers that are anticipating growth of the electric vehicle industry in Thailand, as well as unsuccessful attempts by some companies to further grow their businesses. ....
Thailand’s securities regulator says it must authorise issuances of digital tokens on decentralised finance, or DeFi, platforms under the Digital Asset Act, which regulates assets such as cryptocurrencies and digital tokens and the exchanges where they are traded. “The issuance of digital tokens must be authorised and overseen by the SEC and the issuer is required to disclose information and offer the coins through the token portals licensed under the Digital Asset Act,” the SEC says in a statement on June 2. This is the SEC’s first announcement related to DeFi and comes after wild swings in the price of TukTuk Finance digital tokens traded on DeFi platform Bitkub Chain. According to a June 1 report in the ....