Thai regulators fine Bitkub executive for insider trading

Samret Wajanasathian charged for trades linked to crypto platform's failed sale

Bitkub said it would appeal the action against Samret and that he would continue to perform his duties as chief technology officer. © Reuters

FRANCESCA REGALADO, Nikkei staff writer

August 30, 2022 21:37 JST

BANGKOK -- An executive of Thai cryptocurrency exchange group Bitkub has been fined for insider trading related to a failed acquisition by the country's oldest bank, regulators announced on Tuesday.

The Securities and Exchange Commission said it would fine Samret Wajanasathian 8.53 million baht ($234,481) and bar him from serving as chief technology officer of Bitkub Blockchain Technology for 12 months. BBT is a wholly owned subsidiary of Bitkub Capital Group.