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Strict Thai crypto regulation causes SCB to delay Bitkub acquisition

07/21/2022

Less than a minute

2022.07.21 16:54

Strict Thai crypto regulation causes SCB to delay Bitkub acquisition

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.

07/21/2022

Less than a minute

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