Crypto Exchange Zipmex Faces Probe From Thai Securities Regulator: Bloomberg
Thailand’s Securities and Exchange Commission (SEC) is investigating troubled crypto exchange Zipmex, Bloomberg reported on Wednesday citing a letter sent by the regulator to the company's chief.
The SEC has written to Chief Executive Officer Akalarp Yimwilai on Dec. 28, 2022 of the company possibly violating local business rules for crypto service providers, noting Zipmex may have been operating as a crypto fund manager "without permission," the report said.
The South East Asian crypto exchange, which halted withdrawals after facing liquidity troubles last summer, was planning a recovery process in December, which involves restarting customer withdrawals. There have also been reports of a takeover deal which would see a 90% stake in the company bought out for $100 million by venture capital fund V Ventures.
Last September, the Thai SEC filed a police report against Zipmex after the company allegedly failed to share transaction information with the regulator by a set deadline.
Zipmex has until Jan. 12 to provide a clarification, Bloomberg reported.
CoinDesk has reached out to Zipmex for comment.