Thailand’s Oldest Lender Delays Bitkub Exchange Acquisition Amid Tighter Crypto RulesThe company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire a majority stake in Bitkub, the country’s largest cryptocurrency exchange.
The decision comes amid tightening crypto regulations that limit growth in domestic crypto trading.
SCB Postpones Acquisition of Thai Crypto Exchange BitkubThe parent company of Siam Commercial Bank, SCB X, has delayed a 17.85-billion-baht ($487 million) bid to acquire 51% of the largest crypto exchange in Thailand, Bitkub.
The bank, which is the kingdom’s oldest lender, postponed the deal indefinitely as Thai regulations continue to inhibit growth of crypto trading, Nikkei Asia reported, quoting the financial group.
In response to the increasingly stringent regulations in Thailand, Bitkub has tried to relocate to Vietnam.
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