Thai SEC Revokes Zipmex’s License Amid Compliance Failures

Thai SEC Revokes Zipmex’s License Amid Compliance Failures



Thai cryptocurrency exchange Zipmex has had its business license revoked by the Thai Securities and Exchange Commission (SEC) after failing to comply with regulatory orders.



In a June 11 press release, the SEC outlined that the decision to revoke Zipmex’s license stemmed from concerns over the exchange’s financial instability and subpar management practices. Despite multiple directives to address these issues, Zipmex did not meet the SEC’s compliance requirements within the allotted timeframe. Consequently, the SEC advised Thailand’s Ministry of Finance to revoke Zipmex’s operating license.



The Ministry of Finance has mandated that Zipmex halt all cryptocurrency operations immediately and facilitate the return of customer assets within 15 days. Should customers not claim their assets within this period, Zipmex is required to store


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