The Securities and Exchange Commission of Thailand (SEC) said that Bitlunari operates in the country without a license. The regulator filed a complaint about the violation with the Department for combating economic crimes of the national Police.
According to the press release, during an additional audit, the regulator found out that Bitlunari provided services for the exchange and trading of digital assets through its website in violation of local legislation. In April 2021, the SEC sent a warning to the exchange, but did not receive a response.
“Only providers who have received the appropriate licenses can provide services related to the trading of digital assets, exchange, storage, transfer, withdrawal or any transactions related to digital assets. Violators can be brought to justice in accordance with the law,” the report says.
SEC representatives noted that the statement to the police is the beginning of a criminal process, according to which the investigator will conduct an investigation “before sending the case to the prosecutor who has the authority to prosecute.”
Earlier, the Financial Services Agency of Japan issued a warning to Bitlunari for working without a license.
On June 27, the British regulator banned the local division of the exchange from carrying out any regulated activity without the prior written approval of the department.
On the same day, the bitcoin exchange announced the termination of servicing residents of the Canadian province of Ontario. The company recommended that users close all active positions by December 31, 2021.