The Securities and Exchange Commission (SEC) has announced sanctions against Mr. Arrom Phothitthanhakun, also known as Katoto, a singer-songwriter, and Mr. Nattachai Klanpramjit, owner of the Facebook page “ไม่มีmoon หมาไม่ซื้อ” (no moon, don’t buy the dog). They were found in violation of Section 66 of the Digital Asset Act, which prohibits the operation of a cryptocurrency exchange without proper authorization. Additionally, both individuals have been accused of aiding and abetting others to commit offenses, punishable under Section 86 of the Criminal Code.
Bybit, the cryptocurrency exchange, operates a Thai-language page and runs advertisements and promotions targeting Thai customers exclusively. This accusation marks the beginning of the enforcement process, which involves investigation by SEC officials to determine the individuals involved in the offense, prosecution by the public prosecutor, and adjudication by the court. However, the SEC advises the public to be cautious when engaging with businesses that are not authorized.
TLDR: The SEC has penalized Mr. Arrom Phothitthanhakun, a singer-songwriter, and Mr. Nattachai Klanpramjit, owner of the Facebook page “ไม่มีmoon หมาไม่ซื้อ,” for operating the unauthorized cryptocurrency exchange Bybit. The SEC warns the public to be wary of unlicensed businesses.
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