Thailand Revokes Zipmex’s Crypto License After Liquidity Crisis

Thailand’s Finance Ministry revoked Zipmex’s digital asset business license on May 28 on recommendations of the Securities and Exchange Commission after the exchange repeatedly failed to comply with the regulator’s orders.

• SEC board considered that Zipmex breached the regulator’s order to address its financial problems and management structure, which posed risks for customers and business operations, SEC says in statement Monday
• NOTE: SEC had suspended Zipmex’s digital asset exchange and brokerage services in February after it failed to resolve liquidity problems
• Zipmex shall transfer assets to customers or store assets in a secured system in case customers don’t request ...