SEC announces fine Digital Asset Selection Committee of Bitkub Online Co., Ltd. (“BO”), amounting to 5 cases, the reason that the selection of KUB coins to the trading board does not meet the criteria and does not take into account conflicts of interest (COI) prevention measures
The Office of the Securities and Exchange Commission (SEC) has issued an announcement to settle and fine the Board of Directors of Bitkub Online Co., Ltd. (“BO”) for six offenses including: 1.Mr. Nithiwat Manesin 2.Mr. Sukrit Phutthawiriya 3.Mr. Piyapong Kotchana 4.Mr. Pongsakorn Sutantayavalee 5.Mr. Atakrit Chimphalapiboon and 6.Bit Company Kub Online Co., Ltd. In which all 5 people serve as directors in the digital asset selection committee of Bitkub Online Company Limited (“BO”) with offenses under Section 94 / Digital Assets Act. which the five such committees It is responsible for the selection of digital assets to be used for trading in the digital asset exchange of Bitkub Online Co., Ltd. (“BO”). Coin (KUB coin) traded on cryptocurrency exchanges Does not meet the criteria for selecting and delisting digital assets (Listing Rule) approved by the SEC, and does not take into account the measures to prevent conflicts of interest (COI). In which the SEC has proceeded with a comparative order at 9/2565 with a fine of 2,533,500.00 baht each, totaling 15,201,000 baht.
However, the Compensation Committee has imposed daily fines until Bitkub Online Co., Ltd. acts in violation of the law properly.
However, the aforementioned fines do not include the amount of daily fines from the day following the date of comparison of the offenses until the date the company has acted correctly within the time limit according to the comparison of the offenses.