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Bangkok Post
Bangkok Post
Business

SEC announces lawsuits for 'wash trading'

SEC Bitkub Crypto Securities and Exchange Commission
Representations of cryptocurrencies are seen in this illustration from Aug 10, 2022. (Reuters photo)

The Securities and Exchange Commission (SEC) is taking legal action against five entities for creating an artificial volume of digital assets on Bitkub and Satang cryptocurrency exchanges.

According to the SEC's statement, the regulator issued civil sanctions against Bitkub, Thailand's largest cryptocurrency exchange, Anurak Chuachai and Sakon Srakawee of about 24.2 million baht (US$636,000).

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