{"id":22595,"date":"2024-06-11T23:00:36","date_gmt":"2024-06-11T20:00:36","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22595"},"modified":"2024-06-11T20:29:22","modified_gmt":"2024-06-11T17:29:22","slug":"thailand-sec-cancels-zipmexs-license","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/thailand-sec-cancels-zipmexs-license\/","title":{"rendered":"Thailand SEC Cancels Zipmex&#8217;s Operational Licenses After Investigation"},"content":{"rendered":"<p>Following months of government investigation,<strong> Thailand&#8217;s Securities and Exchange Commission (SEC)<\/strong> has canceled two operational licenses for <strong>Zipmex<\/strong>, a bitcoin exchange.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/thailand-sec-cancels-zipmexs-license\/#License_Cancellation_of_Zipmex\" title=\"License Cancellation of Zipmex\">License Cancellation of Zipmex<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/thailand-sec-cancels-zipmexs-license\/#Investigations_and_Financial_Troubles\" title=\"Investigations and Financial Troubles\">Investigations and Financial Troubles<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/thailand-sec-cancels-zipmexs-license\/#Future_Steps_of_Zipmex\" title=\"Future Steps of Zipmex\">Future Steps of Zipmex<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"License_Cancellation_of_Zipmex\"><\/span>License Cancellation of Zipmex<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>In a June 11 notification, the <strong>SEC<\/strong> announced that, as of May 28, <strong>Zipmex<\/strong> was no longer approved to run as a digital asset exchange and broker for cryptocurrencies in Thailand. The regulator told Zipmex to stop providing services to Thai customers in February until it could &#8220;correct its financial position and operational shortcomings.&#8221; The Finance Minister decided, however, that the trade was &#8220;still in contravention&#8221; of the directives.<\/p>\n<p>The SEC stated, &#8220;<strong>Zipmex<\/strong> is required to return assets to its clients or proceed according to their requests.&#8221; &#8220;If any clients do not notify their requests or claim their assets, Zipmex must deposit the unclaimed assets in a trusted and safe system and must report its proceedings, step by step, immediately to the SEC.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Investigations_and_Financial_Troubles\"><\/span>Investigations and Financial Troubles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>SEC<\/strong> was investigating Zipmex following the fall in the crypto market in 2022. The trade allegedly underwent an investigation into an acquisition by V Ventures and whether it had been running in Thailand without official permission. Saying that the action was an effort to follow rules, Zipmex ceased trading in November 2023.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/apple-intelligence-unveiled-ai-for-ios-ipados-macos\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: Apple Intelligence Unveiled : AI for iOS, iPadOS, macOS<br \/>\n<\/span><\/em><\/a><\/p>\n<p>Originally licensed by the Thai SEC in 2020, the Singapore-based exchange apparently owed debt relief two years later for $97 million, having first registered with According to Zipmex, as of November 2023, as part of its restructuring activities, it was ready to offer creditors 3.35 cents per dollar for initial claims.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Future_Steps_of_Zipmex\"><\/span>Future Steps of Zipmex<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As <strong>Zipmex<\/strong> navigates the aftermath of these cancellations, the exchange must focus on complying with the SEC&#8217;s directives, ensuring that clients&#8217; assets are either returned or securely managed. This decision highlights the regulatory challenges facing cryptocurrency exchanges and the importance of maintaining robust financial and operational practices.<\/p>\n<p><a href=\"https:\/\/t.me\/coinengineernews\"><em><span style=\"font-weight: 400;\">Click here to get the latest news from Coin Engineer!<\/span><\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following months of government investigation, Thailand&#8217;s Securities and Exchange Commission (SEC) has canceled two operational licenses for Zipmex, a bitcoin exchange. License Cancellation of Zipmex In a June 11 notification, the SEC announced that, as of May 28, Zipmex was no longer approved to run as a digital asset exchange and broker for cryptocurrencies in<\/p>\n","protected":false},"author":6,"featured_media":22596,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[2901,6779,4107],"class_list":["post-22595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-thailand","tag-thailand-sec","tag-zipmex"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thailand SEC Cancels Zipmex&#039;s Operational Licenses After Investigation - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/thailand-sec-cancels-zipmexs-license\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand SEC Cancels Zipmex&#039;s Operational Licenses After Investigation - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Following months of government investigation, Thailand&#8217;s Securities and Exchange Commission (SEC) has canceled two operational licenses for Zipmex, a bitcoin exchange. 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