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Thailand's cryptocurrency exchange Bitkub is eyeing going public on the Stock Exchange of Hong Kong as soon as early 2024, the platform's boss Jirayut Srupsrisopa told the South China Morning Post.
Srupsrisopa says the exchange decided to stay in Asia as it believes that in this region it can offer services more effectively than anywhere else. He said:
"I think our strength is in the southeast Asian region. So it's better to be connected to the market closer to home."
However, the Bitkub CEO noted that if Hong Kong wants to be a leader in the industry, it should have "freer and more open regulations and be more receptive to embracing new technologies."
He also pointed out that Bitkub plans to go public in 2024 should the crypto market return back to normal, adding that the platform is still in "the initial phase of exploration."
In September, the Securities and Exchange Commission of Thailand (SEC) filed a lawsuit against Bitkub, saying that two individuals associated with the exchange have been involved in fictitious transactions on the platform.
The authorities have demanded the defendants to pay fines and compensate the costs incurred by the SEC, whose total amount is 24,161,292 baht or $631,007. The violators could also face a ban on trading digital assets or futures for six months.
