Zipmex submits a request for a meeting with the Thai regulator on the company’s restructuring program

Cryptocurrency exchange Zipmex has requested meetings with the Securities Exchange Commission of Thailand (SEC) and other regulators to talk about the company’s restructuring program.

In an Aug. 25 statement, the Zipmex exchange stated it sent a letter requesting meetings with the Thai SEC with the participation of likely traders of the corporation to existing its restructuring program following falling into fiscal hardship due to the affect of the liquidity crisis that has lasted for the previous two months.

The needed discussions with the SEC come a month following the regulator issued an “ultimatum” to Zipmex for the reason that the exchange was concerned in a $ 53 million loan to Babel Finance and Celsius and filed a movement. Thailand prohibits clients from withdrawing dollars.

After dealing with many issues just described, Zipmex was asked to bail out from an unknown get together and to obtain a 3-month “amnesty” debt repayment obligation from the Supreme Court of Singapore. However, provided the SEC’s curiosity in Zipmex, approaching discussions will present significant information and facts on how the corporation could proceed with potential debt repayments. Additionally, Zipmex announced that it will quickly clarify far more on the matter all over mid-September 2022.

Additionally, Zipmex announced that the wallet transfer for its native token, ZMT, in between Z Wallets and Trade Wallets has been reinstated this week, marking even further progress as the corporation is operating to get it totally operational. However, the characteristic is now only obtainable on the web site and not by way of the Zipmex app.

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