Thai regulator probes Zipmex crypto exchange amid acquisition – Crypto News – Crypto News
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Thai regulator probes Zipmex crypto exchange amid acquisition – Crypto News

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Thailand’s Securities and Exchange Commission (SEC) has written to cryptocurrency exchange Zipmex Thailand seeking clarification on whether it has been operating as a digital-asset fund manager without permission, according to a Bloomberg reports,

See related articles: Thailand bans crypto lending and staking services

Fast facts

  • Thailand’s SEC has written to Zipmex Thailand’s chief executive Akalarp Yimwilai pointing out that some of the exchange’s business may be violating the digital asset rules.
  • Zipmex Asia Pte. is being acquired by V Ventures, a subsidiary of Thoresen Thai Agencies Pcl, for about US$100 million, the report said.
  • In July, Zipmex blocked customers from withdrawing their tokens. Citing volatile market conditions and financial difficulties of its partners.
  • Thailand has since been tightening its digital assets oversight after authorities were criticized for failing to protect Zipmex’s local investors,
  • See related articles: Thailand’s SCBX scraps plan to buy 51% stake in crypto exchange Bitkub

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