The sale of digital asset services and goods will be scrutinized by the regulator.
Zipmex declared bankruptcy after repeated attempts to resolve its financial difficulties.
Reportedly, the Securities and Exchange Commission (SEC) of Thailand has begun looking into the troubled cryptocurrency exchange Zipmex. The latter’s compliance with local regulations on the sale of digital asset services and goods will be scrutinized by the regulator.
Bloomberg reports that Thailand’s top financial regulator is to investigate insolvent Zipmex for allegedly operating an unlicensed “digital-asset fund manager.” Moreover, the ZipUP and ZipUP+ investment schemes on the platform will be scrutinized by the SEC.
The CEO of Zipmex, Akalarp Yimwilai, was issued a warning by the watchdog before. To avoid further regulatory examination, the cryptocurrency business has until January 12 to provide further information about its past operations.
Potential Recovery Plan
Furthermore, the protracted bear mar
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