Thailand's Ministry of Finance revoked Zipmex's license due to compliance issues, financial risks, and improper management, following an SEC investigation revealing unauthorized fund transfers.
AlexDiscover the latest on Zipmex's operational halt in Thailand, as it faces SEC scrutiny and financial distress
BrianZipmex's restructuring plan offers creditors a fraction of their claims, sparking discontent and a call for an independent review. The exchange's struggles, evident since August 2022, escalate with uncertainties surrounding increased repayment contingent on financial recovery. As the creditors' vote approaches, Zipmex faces a critical juncture. The recent pause in trading operations in Thailand adds another layer of complexity, reflecting the ongoing challenges the exchange is grappling with.
BerniceThe Securities and Exchange Commission (SEC) of Thailand has implemented a trading and asset deposit halt for Zipmex, effective from 25 November, 1pm local time. This decision aligns with local regulations to ensure compliance. The suspension instructs customers seeking fund or asset withdrawals during this period to directly contact the exchange.
JoyThe action appears to have been triggered by concerns about what Zipmex Thailand told the regulator about the interest payments it made.
OthersCrypto exchange Zipmex has planned to meet with the Thailand Securities Exchange Commission along with other regulators to discuss the ...
BitcoinistThailand’s regulators are still approving crypto companies despite one of its largest ones suspending withdrawals.
CointelegraphIt appears the firm's fortune took a turn to the worst via its exposure to troubled crypto lending service Babel Finance.
CointelegraphThe crypto exchange said it had $48 million in exposure with Babel Finance and $5 million with Celsius — both firms faced liquidity and insolvency issues, respectively.
CointelegraphCrypto exchange platform, Huobi is winding down its operations in Thailand, according to the statement by the platform. This closure ...
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