The Thai Securities and Exchange Commission (SEC) has ordered Zipmex to temporarily cease its operations as a digital asset trading and brokerage platform. This directive comes as the market regulator is demanding that the embattled cryptocurrency exchange make some changes to its management structure as well as improve its financial position.
Zipmex Faces 15-Day Countdown To Implement Regulatory Compliance
In a statement on February 2, the SEC announced its temporary ban on Zipmex’s operations due to non-compliance with its regulatory standard. The securities watchdog stated that it had previously issued an order to the exchange on January 12, demanding it adjust the maintenance of its net liquid capital and modify its business administration structure and personnel in order to promote efficiency and safeguard customers’ interests.
However, in a committee meeting on February 1, the SEC concluded that Zipmex was yet to comply with the set regulatory directives. Thus, they are o
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