Binance is making Thailand the next location for cryptocurrency exchange expansion –

as one of the largest companies in the world cryptocurrency exchange platform, Binance will demonstrate its strong presence in Thailand through its strategic cooperation with Gulf Energy Development PCL. The integration will play an important role in restoring its strong cluster of crypto tools and services for homegrown crypto investors in Thailand through its upcoming Binance branch in Thailand. Gulf Energy Development PCL, a Thai holding company controlled by billionaire Sarath Ratanavadi, works in the core energy sector and has a strong reputation in the region.

according to Report, Gulf Energy has signed a high-potential deal with a top cryptocurrency exchange to explore the potential of Thailand’s fast-growing digital economy. The company hopes that the virtual currency space may see substantial growth in the coming years, and the company looks forward to benefiting from this growth alongside Binance. The joint efforts of the Thai government, Binance authorities, and Gulf Energy will help explore the exchange’s growth options in the Thai crypto market space. The partnership will involve several initiatives, including establishing a communication platform and related business operations for investors in the region.

Binance spokesperson told Reuters On Jan. 17, the team looks forward to working closely with government authorities, financial regulators and powerful companies to nurture Thailand’s crypto and blockchain infrastructure. The country will witness increased crypto regulatory transparency for traders and investors in the industry. The government’s tax chief recently revealed that transparency in the regulatory framework will be a top priority in the crypto space. The government recently imposed a 15% capital gains tax on crypto transactions.

The Central Bank of Thailand has continuously issued warnings to commercial banks and local business operators against the use of cryptocurrencies as payment instruments. In July, Binance received a criminal complaint from Thailand’s Securities and Exchange Commission. The exchange was found guilty of running a digital asset cluster without a license. Binance’s latest entry in Thailand is likely to be fully regulated by the relevant authorities in the region.