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Zipmex Halts Trading Operations in Thailand

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Zipmex, a cryptocurrency exchange, has taken immediate action by suspending all digital asset trading in Thailand to comply with regulatory requirements set by the Securities and Exchange Commission (SEC). The suspension, effective from November 25, 2023, at 1:00 PM onwards, is aimed at ensuring the company's business operations align with SEC criteria. Customers are advised to directly contact the exchange for fund or asset withdrawals, and after January 31, 2024, withdrawals through the website and mobile application will be suspended, requiring customers to contact Customer Support. This move follows reported challenges for Zipmex, including delays in customer payments as an attempt to "maximize returns for customers" in April 2023.