Zipmex Temporarily Suspends Operations in Thailand
To comply with the laws of the Thai Securities Commission, Zipmex has made a decision to temporarily suspend trading pursuits in the land of the Golden Temple....

To comply with the laws of the Thai Securities Commission, Zipmex has made a decision to temporarily suspend trading pursuits in the land of the Golden Temple.
Zipmex Temporarily Suspends Operations in Thailand. Photo: Technology in Asia
According to a observe posted on the exchange’s Facebook web page on November 25, the Zipmex Thailand branch has temporarily stopped deposits and new transactions on the platform.

Zipmex announced the suspension of operations in Thailand on its fan web page
However, the exchange even now processes withdrawal requests right up until January 31, 2024. After that deadline, consumers need to speak to Zipmex buyer services for help with withdrawing dollars.
“After January 31, 2024, the company will temporarily stop cash withdrawals via the website and mobile application. Customers must contact support to withdraw money.” – Notification alert.
Zipmex is headquartered in Singapore and has subsidiaries working in Thailand, Australia and Indonesia. The trading platform has started to be touched by the Thai SEC in July 2022. As a outcome, the country’s securities management company Golden Temple accused Zipmex of shady operations, abusing digital asset monitoring solutions to transfer consumer addresses to Zipmex Pte in Singapore.
Furthermore, Zipmex when closed its withdrawal portal and had to do the job really hard to repay the debt heavily implicated with two crypto lending providers shedding dollars Babel Finance and Celiso. The “sale” agreement to the V Ventures investment fund also well worth $a hundred million collapsed earlier this yr. The exchange has begun restructuring its operations following the Singapore Supreme Court’s “amnesty” debt repayment obligations for one more three months.
In the opposite course, SEC Thai once more green light for the Binance giant via the new joint venture with Gulf Energy Development. The Thai Department of Revenue also has it Cryptocurrency Income Tax Plan from following yr.
Coinlive compiled
Join the discussion on the hottest problems in the DeFi marketplace in the chat group Coinlive Chats Let’s join the administrators of Coinlive!!
More From Crypto News
Coinbase Files for U.S. Stock Perpetual Futures Amid CFTC Delay
Perpetual futures, standard instruments on offshore crypto venues, carry no expiry date and track an underlying asset’s price through a funding-rate mechanism....
Moscow Exchange Plans BTC, ETH, SOL, XRP and TRX Perpetual Futures
Moscow Exchange is planning to introduce perpetual futures contracts for five cryptocurrencies, BTC, ETH, SOL, XRP and TRX, following a surge in crypto-derivati...
Binance Invests $100M in Circle, Signs Five-Year USDC Deal
Binance has reportedly invested $100 million in Circle Internet Group and signed a five-year agreement to support USDC, marking one of the most significant stab...
Bitcoin Surges $7,000 Above $87,000
Bitcoin surged more than $7,000 in a single session, climbing from its intraday low to a Bitstamp peak of $87,400, its highest price since late January. The mov...
Ethereum Gains 6% as Binance ETH Withdrawals Hit 3-Year-High Pace
Ethereum gained 6% as ETH withdrawals from Binance reached a pace not seen in three years, with on-chain data pointing to a sharp rise in coins moving off the e...
Whale Alert Reports 138M USDC Transfer From Aave
Whale Alert flagged a transfer of 138 million USDC from the Aave protocol to an unknown wallet, according to the on-chain monitoring service. The movement invol...