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Cryptocurrency exchange Binance has partnered with Gulf Energy Development to launch a Thai-based crypto exchange called Gulf Binance. The exchange is set to be available in early 2024 and has received approval from the Thai Securities and Exchange Commission. Gulf Binance aims to improve Thailand’s blockchain ecosystem by providing digital asset exchange and broker services while prioritizing security and compliance with regulations. The joint venture combines Binance’s expertise in the digital asset space with Gulf’s local industry knowledge and presence in Thailand. In addition, Binance has been assisting Thai authorities in cracking down on crypto scammers and recently helped the Royal Thai Police seize $277 million from scammers, leading to 3,200 victims seeking help.