The Securities and Exchange Commission in Thailand took action against Samret Wajanasathian, the chief technology officer of the Thai crypto exchange Bitkub. The SEC fined him 8.5 million baht (~$234,000), and said they would bar him from serving as a director or executive at any crypto firms for a year.The SEC reported that Wajanasathian had purchased around $61,000 of Bitkub Coin ($KUB) just before it was publicized that the Siam Commercial Bank would purchase a 51% stake in Bitkub. After the announcement, the value of KUB rose 100%.Earlier that week, the SCM had announced they would not be following through on purchasing the planned $500 million stake in Bitkub, due to concerns over “various issues” that were raised by the Thai SEC.