Thailand’s Securities and Exchange Commission (SEC) has ordered Zipmex, Thailand’s second largest cryptocurrency exchange after Bitkub, to resume trading and digital asset withdrawals within three days after an official announcement is issued, following the company’s freezing of digital assets and withdrawals last week, prompting complaints by concerned investors who stand to lose a total of up to 300 million baht.

 

The order also followed a meeting yesterday (Monday) between SEC executives, led by Secretary-General Ruenvadee Suwanmongkol, and officials of the Department of Special Investigation (DSI), convened to discuss measures to protect hundreds of investors from the risk of loss, after the company suspended trading and withdrawals from ZipUp+ and Z Wallet under Zipmex Global last Wednesday.

 

Invoking Article 35 of the Executive Decree on Digital Asset Businesses, the SEC ordered Zipmex Thailand to resume trading and to allow investors to deposit or withdraw their digital assets from the Trade Wallet.

 

Full Story: https://www.thaipbsworld.com/zipmex-ordered-to-resume-trading-withdrawals-within-3-days-following-worrying-freeze/

 

-- © Copyright Thai PBS 2022-07-26

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

Should be interesting

And if they do not "obey" what next, fine them in bitcoin?

6 minutes ago, DezLez said:

And if they do not "obey" what next, fine them in bitcoin?

If they can find them ?

1 minute ago, Excel said:

If they can find them ?

The worthless con merchants or the worthless crypto/bitcoin?

So Zipmex has been repaid all that debt it had loaned out,

if not, doubt there will be much to repay their clients. wonder

what collateral they had for their loans  ?

regards Worgeordie 

Just now, DezLez said:

The worthless con merchants or the worthless crypto/bitcoin?

Well the former really,

can we please add 'Cryptobabble' to the oxford dictionary. 

19 hours ago, snoop1130 said:

Thailand’s Securities and Exchange Commission (SEC) has ordered Zipmex, Thailand’s second largest cryptocurrency exchange after Bitkub, to resume trading and digital asset withdrawals within three days

Best of luck with that.

Once they allow withdrawals, won't the equivalent of a bank run happen and bankrupt the company? I don't see this end well for the gamblers involved.