Thai SEC files police report on Zipmex, alleging ‘incomplete’ info for compli...
The Cyber Crime Investigation Bureau in Thailand will now consider whether to pursue legal action against Zipmex following the SEC's allegations. Thailand’s Securities and Exchange Commission, or SEC, has accused crypto exchange Zipmex and its co-founder Akalarp Yimwilai of non-compliance with local laws and referred the matter to the police.In a Wednesday announcement, the Thai SEC alleged Zipmex had not provided information on digital wallets and crypto transactions in compliance with the country’s Digital Assets Act. The regulator claimed that both Akalarp and the exchange forwarded....
Related News
It appears the firm's fortune took a turn to the worst via its exposure to troubled crypto lending service Babel Finance. In a document dated Wednesday, July 27, Thai cryptocurrency exchange Zipmex said that its solicitors in Singapore, Morgan Lewis Stamford LLC, filed five moratorium applications, or legal authorization to debtors to postpone payment, under Section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018 on behalf of the company. Zipmex seeks to protect itself against third party actions, claims, and proceedings for a period of six months while the filing is....
The investors affected by Zipmex's withdrawals' pause can submit information about their losses via an online forum on the Thai SEC’s official website. In the aftermath of the Thai cryptocurrency exchange Zipmex stopping withdrawals last week, local financial regulators are stepping in to look into potential losses by investors.Thailand’s Securities and Exchange Commission (SEC) is taking action to collect all necessary information from investors on how they have been affected by issues on Zipmex.The regulator officially announced on July 25 that Zipmex customers can submit information via....
Thailand’s securities regulator recently said it had referred digital asset service provider Zipmex and its Thai unit chief executive officer, Akalarp Yimwilai, to a technology crime division of the Royal Thai Police. The regulator said it made decision after Yimwilai and his company failed to comply with the request to furnish an official with information relating to customers’ digital wallets.
Zipmex Fails to Share Details on Transfers and Withdrawals on Its Platform
Thailand’s Securities and Exchange Commission (TSEC) said it has referred Zipmex and the....
Thailand’s regulators are still approving crypto companies despite one of its largest ones suspending withdrawals. Thailand’s financial regulator, the Securities and Exchange Commission (SEC), has approved four more crypto companies in the Kingdom.On Aug. 4, it was reported in local media that the SEC had granted operating licenses to four more digital asset operators.These include Krungthai XSpring, a crypto broker affiliated with one of the country’s leading banks, and crypto exchange T-BOX Thailand. Also winning regulatory approval was crypto advisor and fund manager Coindee and Leif....
Cointelegraph spoke to the CEO of Zipmex following the failed Coinbase deal regarding rumors that crypto contagion has spread to Thailand. Thai cryptocurrency exchange Zipmex has paused withdrawals on its platform following a "combination of circumstances" beyond its control. Cointelegraph reports that Zipmex could be in trouble were dismissed moments prior as “rumors” just moments earlier by CEO and co-founder Marcus Lim following the failed acquisition of the Thai exchange by Coinbase. Due to a combination of circumstances beyond our control including volatile market conditions, and the....