Sign In
SEC News

SEC orders Zipmex to further clarify information on its clients’ assets



Thursday 21 July 2022 | No. 118 / 2022


Bangkok, 21 July 2022 – Regarding the Securities and Exchange Commission (SEC)’s order issued yesterday for digital asset exchange Zipmex Thailand to clarify its statement on the suspension of all Thai baht and digital asset withdrawals announced via its Facebook account, Zipmex has submitted a clarification on the issue today.

However, the submitted information still lacks main points to accompany consideration. The SEC has therefore instructed Zipmex in writing to provide complete details of the incident, which includes the information on the clients’ assets under its custody. The exchange is also required to show evidence on the investments of the clients’ digital assets that had been deposited with ZipUp via various cryptocurrency platforms, especially Celsius Network and Babel Finance. Additionally, Zipmex must resume its normal services of trading system and its asset deposit and withdrawal system related to the exchange, and provide a client communication service system and complaint handling services sufficiently and efficiently. 

______________________






Related News

Zipmex’s digital asset exchange and broker licenses revoked
SEC public hearing on proposed principles for shelf filing ICOs in soft power industries to promote Thailand’s digital economy
SEC extends the renewal application period for capital market business personnel to enhance flexibility and convenience
SEC amends regulations on sustainability-themed ICOs
SEC public hearing on proposed amendments to the net capital rules regarding the definition of Qualified Subordinated Debt for securities and derivatives business operators