The Securities and Exchange Commission Board (SEC) of Thailand has made resolution about the cryptocurrencycurrency exchange Zipmex due to operational concerns with the company. The SEC Board has mandated that Zipmex’s commercial activities remain suspended.
Within 15 days, the business must return client assets or carry out client requests. Zipmex is required to put funds into a secure system within 30 days if clients do not claim them by March 11th.The Minister of Finance was also advised by the SEC Board to revoke Zipmex’s business license for digital assets.
Zipmex is still subject to SEC oversight and has to abide by rules till their license may be revoked.Zipmex is still in business as a limited firm. Customers can get in touch with Zipmex to get their assets back from deposit. Zipmex as a company is still subject to its rights and obligations, even in the event that its license is revoked.The resolutions give priority to safeguarding customer assets in light of Zipmex’s inability to have adequate capital reserves. Under regulatory inquiry, the Bitcoin exchange’s future is still unclear.
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