{"id":10395,"date":"2024-02-02T19:51:03","date_gmt":"2024-02-02T17:51:03","guid":{"rendered":"https:\/\/forklog.com\/en\/thai-regulator-orders-zipmex-to-halt-operations\/"},"modified":"2024-02-02T19:51:03","modified_gmt":"2024-02-02T17:51:03","slug":"thai-regulator-orders-zipmex-to-halt-operations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/thai-regulator-orders-zipmex-to-halt-operations\/","title":{"rendered":"Thai Regulator Orders Zipmex to Halt Operations"},"content":{"rendered":"<p>The Securities and Exchange Commission (SEC) of Thailand has mandated the cryptocurrency exchange Zipmex to suspend trading of digital assets and brokerage services.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"th\" dir=\"ltr\">\u0e01.\u0e25.\u0e15. \u0e2a\u0e31\u0e48\u0e07\u0e01\u0e32\u0e23\u0e43\u0e2b\u0e49 Zipmex \u0e23\u0e30\u0e07\u0e31\u0e1a\u0e01\u0e32\u0e23\u0e43\u0e2b\u0e49\u0e1a\u0e23\u0e34\u0e01\u0e32\u0e23\u0e40\u0e1b\u0e47\u0e19\u0e28\u0e39\u0e19\u0e22\u0e4c\u0e0b\u0e37\u0e49\u0e2d\u0e02\u0e32\u0e22\u0e41\u0e25\u0e30\u0e19\u0e32\u0e22\u0e2b\u0e19\u0e49\u0e32\u0e0b\u0e37\u0e49\u0e2d\u0e02\u0e32\u0e22\u0e2a\u0e34\u0e19\u0e17\u0e23\u0e31\u0e1e\u0e22\u0e4c\u0e14\u0e34\u0e08\u0e34\u0e17\u0e31\u0e25\u0e0a\u0e31\u0e48\u0e27\u0e04\u0e23\u0e32\u0e27<a href=\"https:\/\/t.co\/N0cCYvcASM\">https:\/\/t.co\/N0cCYvcASM<\/a><\/p>\n<p>\u2014 ThaiSEC_News (@ThaiSEC_News) <a href=\"https:\/\/twitter.com\/ThaiSEC_News\/status\/1753357346636746993?ref_src=twsrc%5Etfw\">February 2, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On January 12, the SEC required the platform to make changes to its structure for maintaining and managing liquid capital. However, at a meeting in early February, the regulator concluded that the identified deficiencies remained unaddressed.<\/p>\n<p>Starting from February 2, Zipmex has 15 days to comply with the order.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cDuring the suspension, [the exchange] must allow clients to withdraw assets at any time [\u2026]. Zipmex can resume normal business operations after receiving permission from the SEC,\u201d the document states.<\/p>\n<\/blockquote>\n<p>In July 2022, Zipmex faced liquidity issues following problems with its partners \u2014 <a href=\"https:\/\/forklog.news\/babel-finance-priostanovil-vyplaty-i-vyvod-sredstv\/\" target=\"_blank\" rel=\"noreferrer noopener\">Babel Finance<\/a> and <a href=\"https:\/\/forklog.news\/celsius-podala-zayavlenie-o-bankrotstve\/\" target=\"_blank\" rel=\"noreferrer noopener\">Celsius Network<\/a>. Subsequently, the platform <a href=\"https:\/\/forklog.news\/bitkoin-birzha-zipmex-priostanovila-vyvod-sredstv-iz-za-stecheniya-obstoyatelstv\/\" target=\"_blank\" rel=\"noreferrer noopener\">suspended withdrawals<\/a>, citing an &#8220;unforeseeable circumstance&#8221; beyond its control.<\/p>\n<p>A few days later, the exchange partially resumed deposits and withdrawals, and later sought court protection from creditors in Singapore.<\/p>\n<p>In the autumn, the Thai SEC filed a police complaint against Zipmex and its co-founder Akalarp Yimwilai.<\/p>\n<p>In December, it was revealed that venture firm V Ventures proposed to acquire 90% of the company\u2019s shares, valued at approximately $100 million.<\/p>\n<p>Zipmex promised to fully resume withdrawals after the deal&#8217;s completion. However, in March 2023, it warned of potential liquidation due to V Ventures missing a tranche payment.<\/p>\n<p>Earlier in April, the venture firm offered Zipmex creditors to buy out the exchange\u2019s obligations at a rate of 10\u201320 cents on the dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Commission (SEC) of Thailand has mandated the cryptocurrency exchange Zipmex to suspend trading of digital assets and brokerage services. \u0e01.\u0e25.\u0e15. \u0e2a\u0e31\u0e48\u0e07\u0e01\u0e32\u0e23\u0e43\u0e2b\u0e49 Zipmex \u0e23\u0e30\u0e07\u0e31\u0e1a\u0e01\u0e32\u0e23\u0e43\u0e2b\u0e49\u0e1a\u0e23\u0e34\u0e01\u0e32\u0e23\u0e40\u0e1b\u0e47\u0e19\u0e28\u0e39\u0e19\u0e22\u0e4c\u0e0b\u0e37\u0e49\u0e2d\u0e02\u0e32\u0e22\u0e41\u0e25\u0e30\u0e19\u0e32\u0e22\u0e2b\u0e19\u0e49\u0e32\u0e0b\u0e37\u0e49\u0e2d\u0e02\u0e32\u0e22\u0e2a\u0e34\u0e19\u0e17\u0e23\u0e31\u0e1e\u0e22\u0e4c\u0e14\u0e34\u0e08\u0e34\u0e17\u0e31\u0e25\u0e0a\u0e31\u0e48\u0e27\u0e04\u0e23\u0e32\u0e27https:\/\/t.co\/N0cCYvcASM \u2014 ThaiSEC_News (@ThaiSEC_News) February 2, 2024 On January 12, the SEC required the platform to make changes to its structure for maintaining and managing liquid capital. However, at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,1266,1355],"class_list":["post-10395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-thailand","tag-zipmex"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10395"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10395\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10394"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}