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Cryptocurrency News

Strict Thai crypto regulation causes SCB to delay Bitkub acquisition

07/21/2022

Less than a minute

2022.07.21 16:54

Thailand’s oldest bank is unable to acquire the country’s largest local cryptocurrency exchange due to stringent crypto regulations.

As reported by Cointelegraph in November 2021, SCB X Group, a subsidiary of Siam Commercial Bank (OTC:SMUUY) (SCB), was set to acquire a 51% stake in Bitkub by the second quarter of 2022 as part of a plan to become a regional fintech. Now things seem to have taken a twist, as the bank has indefinitely postponed its plans to acquire the popular exchange.

Source

07/21/2022

Less than a minute