Back in mid-January, the SEC notified Zipmex that the exchange needed to make a number of changes to its liquid capital management structure. However, a few days ago the regulator announced that the order had not been implemented. Starting from February 3, the exchange has 14 days to comply with the regulator’s instructions. At the same time, the activities of the site must be suspended under the threat of a complete cessation of activities in the country.
Thai officials insist that during the suspension, the exchange must allow users to withdraw their assets at any time.
Problems with the trading platform began in the summer of 2022. The exchange began to experience a lack of liquidity after its partners Babel Finance and Celsius Network began to experience financial difficulties. At the end of November 2023, the exchange offered creditors a payment plan under which they would be able to withdraw about 3 cents per dollar of investment.
Source: Bits
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