Bangkok, 31 March 2023 – The Securities and Exchange Commission (SEC) has filed a criminal complaint against 1000X Limited (1000X) and Mr. Worawat Narknawdee with the Economic Crime Suppression Division of the Royal Thai Police (ECD) for jointly operating the digital asset dealer business without license in violation of Section 26 and subject to the penalties under Section 66 of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), in conjunction with Section 83 of the Penal Code.

Following receipt of clue information, the SEC conducted an investigation and found that since 12 January 2022, 1000X, the service provider of the website https://www.1000x.live (1000x.live), had provided services or presented itself to the public that it was ready to provide the service with respect to the exchange of digital assets  in the ordinary course of business outside the digital asset exchange. Additionally, 1000X promoted its service in the Thai language on a Facebook Page named 1000X Thailand to invite the public to use the service. Worawat, the owner and operator of ACTPAY, was responsible for providing a notification system which would notify 1000X of transactions to 5,000 wallet addresses on 1000x.live, resulting in the website having a complete system for the business. The acts of 1000X and Worawat constitute jointly operating the digital asset dealer business under Section 3 of the Emergency Decree on Digital Asset Businesses without license in violation of Section 26 and subject to the penalties under Section 66 of the Emergency Decree on Digital Asset Businesses, in conjunction with Section 83 of the Penal Code. While 1000X has continued to operate the business with the action as mentioned above, Mr. Worawat Narknawdee operated the notification system on 1000x.live from 12 January 2022 to 30 June 2022.

The SEC has, therefore, filed the criminal complaint against 1000X and Mr. Worawat Narknawdee with the ECD for further legal action.

In any case, filing a criminal complaint is merely the commencement of the criminal justice proceedings. The process of determining whether a person has committed a legal offense involves the investigative powers of the inquiry officer, the decision to prosecute by public prosecutors, and ultimately the judicial discretion of the court in rendering a verdict.

The public and investors can check the list of licensed digital asset business operators on the SEC website at www.sec.or.th or through the SEC Check First application. To report suspicious activities, please contact the SEC through the SEC Public Service Center Hotline at 1207, the official SEC Facebook Page at “สำนักงาน กลต.” (SEC Office), or SEC Live Chat at the SEC website.

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