Thai Regulator Investigates Violation of Law by Crypto Exchange Zipmex

The Thai Securities and Exchange Commission (SEC) launched an investigation into the Zipmex exchange. Local authorities believe that the company's actions violated the law on digital asset service providers. This applies to certain services that cannot be provided in Thailand or can only be provided with an appropriate permit. SEC until January 12 to find out if the company acted as a digital asset fund manager. The commission made it clear that Zipmex does not have such permission. It is reported that what is happening may be related to the process of buying a crypto exchange by V Ventures, a subsidiary of Thoresen Thai Agencies.. The transaction amount is approximately $100 million. The crypto exchange is in the process of restructuring due to a long crisis in the market and plans to unfreeze customer accounts by April 2023 using the proceeds from the transaction. Recall that in August, the High Court of Singapore released Zipmex from claims and claims of creditors for three months – until December 2, so that the exchange could come up with an effective restructuring plan.