Thai Regulator Moves to Revoke Crypto Exchange Zipmex’s License

Thailand’s Securities and Exchange Commission has asked the Finance Ministry to revoke Zipmex’s license to operate digital asset businesses after the company failed to resolve liquidity issues within a stipulated period.

• The regulator ordered Zipmex to suspend operations of its digital asset exchange and brokerage services on Feb. 2 and set a 15-day deadline to report progress in addressing liquidity problems
• On Friday, SEC said Zipmex remains under its supervision and is required to abide by rules until company’s license is formally revoked by the finance ministry, according to a statement Friday
• Company must transfer clients’ digital asset back ...