According to the regulator, the crypto exchange could resume normal operations should it meet SEC requirements within 15 days.
Thailand’s Securities and Exchange Commission (SEC) ordered crypto exchange Zipmex to suspend its digital asset trading and brokerage services temporarily.
In a Feb. 2 announcement, the SEC said Zipmex had 15 days to “correct its financial position and operational deficiencies” as previously ordered by the financial regulator. According to the SEC, the crypto exchange will be allowed to resume normal operations upon meeting the regulator’s requirements, during which time users must be able to withdraw funds.
“According to the process specified by law. If the digital asset business operator is unable to comply with the SEC’s orders [...] within the specified period, the SEC may propose that the Minister of Finance consider revoking the order,” said SEC Deputy Secretary General Anek Yuyuen.
