Binance’s Reboot Faces Test in Thailand After $4.3 Billion US Fine
- Thai tycoon Sarath, Binance are starting local crypto platform
- Largest crypto exchange pleaded guilty to US charges last week
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Binance Holdings Ltd.’s attempt to turn the page on costly regulatory violations faces a test in Thailand, where the world’s largest crypto exchange will soon start a new trading venue with one of Asia’s richest men.
The venture with Sarath Ratanavadi’s Gulf Energy Development Pcl recently received the required licenses, but Binance’s guilty plea last week and $4.3 billion in penalties for US anti-money laundering and sanctions contraventions have cast a shadow over the planned domestic digital-asset platform.