Thai SEC Requests Withdrawal of Zipmex Exchange License
Date: 2024-02-25 Author: Dima Zakharov Categories: IN WORLD
Thai SEC Takes Action
The Securities and Exchange Commission (SEC) of Thailand has taken a significant step by requesting the withdrawal of the license of Zipmex, a cryptocurrency exchange currently undergoing restructuring. This move comes as part of the regulator's ongoing efforts to address issues within the crypto industry.
Extended Ban and Client Refunds
In addition to the license withdrawal request, the SEC has extended the ban on Zipmex's activities, initially imposed on February 1. During a recent session, SEC members decided that Zipmex clients could request refunds until March 11. Following this deadline, all company funds must be transferred to a "trusted and secure system," with Zipmex management required to report on this action.
Future Status of Zipmex
Even after the license withdrawal, Zipmex will retain its status as a limited liability company with corresponding rights, duties, and obligations, including the possibility of legal action. The SEC emphasized that despite the withdrawal, Zipmex's responsibilities remain intact.
Challenges Faced by Zipmex
Zipmex has faced challenges since 2022, particularly related to investments in troubled cryptocurrency services such as Babel and Celsius. Thai authorities recently accused the exchange's management of fraud and deceiving clients, further complicating its situation.
