Thai SEC Orders Zipmex to Suspend Crypto Exchange, Services

Thailand’s Securities and Exchange Commission has ordered Zipmex to suspend its digital asset exchange and brokerage services from Friday after it failed to resolve liquidity problems.

• Company will need to resolve financial problems and bring its fund back to the level required by law as well as undertake management restructuring to increase work efficiency, according to the SEC statement Friday
• During the suspension, Zipmex customers must be allowed to withdraw money and transfer assets as they wish
• Company must report progress to SEC within 15 days
• SEC can request Finance Minister to revoke Zipmex’s business licenses if it fails to ...