Zipmex Temporarily Suspended by Thai SEC Over Compliance Issues

Regulatory Compliance Deadline

The Thai Securities and Exchange Commission (SEC) has imposed a temporary suspension on Zipmex, a digital asset trading platform, due to non-compliance issues. With a 15-day window to amend its business structure and financial health, the exchange is under pressure to meet the SEC's regulatory standards.

Zipmex's Restructuring Efforts

Previously given directives by the SEC for adjustments in net liquid capital and business administration, Zipmex now faces an operational halt as of February 2. Within the suspension period, they must address the outlined financial and operational issues, including the protection of investors' assets.

Future of Zipmex

Without an official statement from Zipmex post the SEC's announcement, the future of the exchange remains uncertain. Past financial troubles and directives to halt certain services cloud its outlook. Amidst this, the SEC insists on maintaining withdrawal functions for customers throughout the suspension.