Bitkub – top-tier Thai-based crypto exchange platform – has reportedly made its operations normally functional again starting Jan 23rd, after a short period of being suspended by the local SEC. 

Specifically, the shutdown reportedly occurred after numerous brief service outages took place, because of major surges in traffic when Bitcoin price surpassed the 1 million Thai baht ($33,340) in January. 

The psychologically significant number reportedly resulted in a sudden rise in the figure of new investors pouring to the site – which is having a hard time dealing with the volume changes. 

The SEC ordered the exchange reportedly requested the exchange to suspend its operations, and run revision on its operational protocols, in a bid to enhance reliability. Bitkub followed the requirements and turned the improvement plan in with the regulator on January 23rd, securing the right to offer trading services as usual again, through its webpage. 

The SEC is reportedly revising the plan, with details outlining increasing twice the figure of support human resources, enhancing Know Your Customer verification procedures, as well as establishing a 100 million Thai baht ($3.3 million) client protection fund. 

Bitkub reportedly predicted a growth of 600% for 2020 – which in reality has crossed the 1000% milestone, and the 2021 forecast, 1000% this time, has been surpassed in only a matter of days. 

Crypto trading has reportedly witnessed a major boom in Thailand throughout the recent bull market, with volume across the six regulatory compliant exchange platforms in the nation reaching the 14.6 billion Thai baht ($487,000) mark, within the time frame of Jan. 1 and Jan. 24.