The SCB stated that the reason for cancellation was due to Bitkub's ongoing lawsuit with Thailand's Securities and Exchange Commission for the alleged involvement in wash and inside trading.

[5] It benefited from the abrupt closure of BX.in.th in 2019,[6] and the rush into cryptocurrency trading as the price of Bitcoin surged from late 2020, but the spike in activity overwhelmed its systems, causing multiple crashes in January 2021, prompting the exchange to temporary shutdown; the SEC ordered rectification of the issues.

[7] The SEC also ordered a suspension of new user registration until the company could demonstrate the resilience of its systems, which was lifted in April.

[5][11] This deal was later scrapped in August 2022, with Siam Commcercial Bank Group abandoning this due to unresolved regulatory issues.

[13] In December 2021, Bitkub was fined a total of 3.9 million baht for eight infractions including system outages and disruptions, violating trading rules, insufficient customer support, insufficient market surveillance, improper customer asset storage, and improper compliance system.