Thailand’s Securities and Exchange Commission (SEC) has written to cryptocurrency exchange Zipmex Thailand seeking clarification on whether it has been operating as a digital-asset fund manager without permission, according to a Bloomberg report.
Bangkok, Thailand. Image: Envato Elements
Thailand’s Securities and Exchange Commission (SEC) has written to cryptocurrency exchange Zipmex Thailand seeking clarification on whether it has been operating as a digital-asset fund manager without permission, according to a Bloomberg report.
Thailand’s SEC has written to Zipmex Thailand’s chief executive Akalarp Yimwilai pointing out that some of the exchange’s business may be violating the digital asset rules.
Zipmex Asia Pte. is being acquired by V Ventures, a subsidiary of Thoresen Thai Agencies Pcl, for about US$100 million, the report said.
In July, Zipmex blocked customers from withdrawing their tokens, citing volatile market conditions and financial difficulties of its partners.
Thailand has since been tightening its digital assets oversight after authorities were criticized for failing to protect Zipmex’s local investors.
Pradipta Mukherjee is a business reporter and has worked for Bloomberg News and Business Standard in India. An MBA and a post-graduate in Economics, Mukherjee focuses on financial markets and corporates. She is a Mary Morgan Hewett award recipient for Women in Journalism. She has also won the Jefferson Fellowship; the Thomson Reuters Foundation fellowship on ‘Social Media and Digital Journalism’ at The Chinese University of Hong Kong; the Kiplinger Fellowship at Ohio University, USA; and most recently, the National Press Foundation's fellowship on 'International Trade.'
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