Thailand’s regulatory authority has ordered the cryptocurrency exchange Zipmex, which is experiencing financial problems, to cease its activities.
The Thai Securities and Exchange Commission (SEC) recently published a statement on crypto exchange Zipmex. Instruction to suspend cryptocurrency trading and brokerage services gave.
Regulatory agency cracks down on troubled crypto exchange on January 12 ordered it to change its liquid capital maintenance and management structure. But the exchange could not meet the SEC’s demands. The SEC ordered Zipmex to improve its financial condition and prevent improper use of customer funds. 15 days given:
In this regard, Zipmex must submit the results of the correction to the SEC within 15 days from February 2, 2024. Zipmex will be able to resume normal business operations after receiving clearance from the SEC.
Zipmex especially 2022 It suffered serious damage in the bear market of 2018 and has recently been dragged into a financially difficult situation. To users of the exchange More than $97 million in debt It is thought to be.
The exchange stopped withdrawals last year, then reopened them and in the process Singapore regarding debts from the court moratorium He requested it to be extended many times.