Thai exchange Bitkub shuts down new signups after SEC order

Thailand’s securities regulator has ordered the country’s largest exchange to halt registrations following a series of outages in January. Bitkub cryptocurrency exchange will now have to address five key areas as outlined by the watchdog, including integrating a system that’s better suited to handling spikes in trading volume.

The Securities and Exchange Commission (SEC) sent the notice to Bitkub two weeks ago following three outages in January. With the prices of most digital currencies shooting up, trading volume surged fivefold. The surge overwhelmed Bitkub’s system, leading to the outages.

The SEC sent the notice to the exchange, ordering it to fix the issues or face regulatory actions. As the Bangkok Post reported at the time, the exchange temporarily suspended its services to fix these issues. It has since then reopened these services.

However, as the paper now