Bitkup, meanwhile, has also been hit with seven additional charges for not providing investors with a secure system, the Securities and Exchange Commission (SEC) announced on Friday.
The SEC board decided to hit the three firms with fines totalling more than 12 million baht.
Satang and Bitazza have been fined 4.66 million baht and 3.56 million baht respectively for failing to meet SEC’s criteria on depositing clients’ digital assets.
Bitkup, meanwhile, has been fined 3.97 million baht over deposits and for running an insecure system.
Action was taken against the companies in response to complaints filed by customers.
Published : December 24, 2021
By : THE NATION