Thai SEC Directs Zipmex to Halt Digital Trading Services

The SEC stated on February 2 that Zipmex has a 15-day period to address its financial and operational issues.

Last updated: February 12, 2024 6:23 AM

Published 2024-02-03

Last updated: February 12, 2024 6:23 AM

Published 2024-02-03

Thailand’s Securities and Exchange Commission (SEC) has directed Zipmex, a crypto exchange, to temporarily halt its digital asset trading and brokerage services.

The SEC stated Zipmex has a 15-day period to address its financial and operational issues, as previously instructed by the regulatory authority.

Once Zipmex meets the specified requirements, it will be permitted to resume its regular operations, and users should be able to withdraw their funds during this period.

The crypto exchange can resume regular activities once it fulfills the SEC’s requirements, and users should be able to withdraw funds during this period. If Zipmex fails to comply within the stipulated timeframe, the SEC may recommend to the Minister of Finance the revocation of the order, following the legal process.

Also Read: Thailand Delays $14B Digital Wallet Launch

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