Sign In
SEC News
SEC files a criminal complaint against MRC - BIZ and its director for public offering of digital tokens and operating digital asset exchange without license



Friday 5 July 2019 | No. 82 / 2019


Bangkok, 5 July 2019 – The SEC has filed a criminal complaint against MRC - BIZ Co., Ltd. and its authorized director Mr. Tanit Ratchanontanunkron with the Economic Crime Suppression Division of the Royal Thai Police (ECD) for having conduct liable to offering for sale of digital tokens and operating digital asset exchange without license under the Digital Asset Businesses B.E. 2561 (2018).

According to given tips and the SEC’s further investigation, it was found that MRC - BIZ led by Tanit had offered for sale and given trading service of digital tokens through public solicitation for investment in such product via online social media channels such as Facebook, YouTube and MRC - BIZ website. Earlier, in this regard, the SEC notified the company to end such conduct that may be liable to offering for sale and giving trading service of digital tokens without license; however, the company’s public solicitation for investment in digital tokens still continues to be found.

The misconduct of MRC - BIZ is liable to offering for sale of digital tokens and operating digital asset exchange without license, which is a legal offense under Section 17 and Section 26 subject to the penalties under Section 57 and Section 66 of the Royal Decree on Digital Asset Businesses B.E. 2561 (2018). The first count of unlicensed offering of digital tokens is liable to imprisonment for a term not exceeding two years or a fine not exceeding twice the offer price of the total digital tokens offered for sale but in any case not be less than 500,000 baht, or both imprisonment and fine. The second count of unlicensed digital asset exchange is liable to an imprisonment term from two to five years, and a fine from 200,000 to 500,000 baht and a daily fine not exceeding 10,000 baht throughout the period when the contravention continues.

The SEC has therefore filed a criminal complaint against MRC - BIZ and Mr. Tanit Ratchanontanunkron with the ECD. Persons suffering damage from such investment case above can give more information to the ECD at 0-2237-1199 for further investigation and legal action. 

In any case, filing a criminal complaint commences the criminal justice administration process whereby the consideration of whether the defendant is guilty is under the ECD’s investigation, the public attorney’s prosecution, and the court’s jurisdiction, respectively. 

Those interested in seeking advice on fundraising or applying for a digital asset business license in compliance with th Royal Decree on Digital Asset Businesses B.E. 2561 (2018) are welcome to contact the SEC Digital Asset Clinic through Help Center Hotline 1207 (press 4), or make an appointment with SEC official, free of charge. 

_____________________________












Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 82 / 2019 Friday 5 July 2019
SEC files a criminal complaint against MRC - BIZ and its director for public offering of digital tokens and operating digital asset exchange without license
Bangkok, 5 July 2019 – The SEC has filed a criminal complaint against MRC - BIZ Co., Ltd. and its authorized director Mr. Tanit Ratchanontanunkron with the Economic Crime Suppression Division of the Royal Thai Police (ECD) for having conduct liable to offering for sale of digital tokens and operating digital asset exchange without license under the Digital Asset Businesses B.E. 2561 (2018).

According to given tips and the SEC’s further investigation, it was found that MRC - BIZ led by Tanit had offered for sale and given trading service of digital tokens through public solicitation for investment in such product via online social media channels such as Facebook, YouTube and MRC - BIZ website. Earlier, in this regard, the SEC notified the company to end such conduct that may be liable to offering for sale and giving trading service of digital tokens without license; however, the company’s public solicitation for investment in digital tokens still continues to be found.

The misconduct of MRC - BIZ is liable to offering for sale of digital tokens and operating digital asset exchange without license, which is a legal offense under Section 17 and Section 26 subject to the penalties under Section 57 and Section 66 of the Royal Decree on Digital Asset Businesses B.E. 2561 (2018). The first count of unlicensed offering of digital tokens is liable to imprisonment for a term not exceeding two years or a fine not exceeding twice the offer price of the total digital tokens offered for sale but in any case not be less than 500,000 baht, or both imprisonment and fine. The second count of unlicensed digital asset exchange is liable to an imprisonment term from two to five years, and a fine from 200,000 to 500,000 baht and a daily fine not exceeding 10,000 baht throughout the period when the contravention continues.

The SEC has therefore filed a criminal complaint against MRC - BIZ and Mr. Tanit Ratchanontanunkron with the ECD. Persons suffering damage from such investment case above can give more information to the ECD at 0-2237-1199 for further investigation and legal action. 

In any case, filing a criminal complaint commences the criminal justice administration process whereby the consideration of whether the defendant is guilty is under the ECD’s investigation, the public attorney’s prosecution, and the court’s jurisdiction, respectively. 

Those interested in seeking advice on fundraising or applying for a digital asset business license in compliance with th Royal Decree on Digital Asset Businesses B.E. 2561 (2018) are welcome to contact the SEC Digital Asset Clinic through Help Center Hotline 1207 (press 4), or make an appointment with SEC official, free of charge. 

_____________________________