Thai SEC Probes Zipmex for Violating Local Rules
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Thailand's securities and exchange commission is probing cryptocurrency exchange Zipmex for possible violations of local rules in its offerings, Bloomberg has learned, citing a letter written by the SEC.

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In the letter, the SEC warned Zipmex's boss, Akalarp Yimwilai, that some of the exchange's activities might violate the country's local rules. The financial regulator believes that Zipmex could have been working as "digital-asset fund manager without permission."

The probe comes amid Zipmex's potential acquisition by V Ventures. As per reports, the exchange is in a buyout discussion with the venture capital firm to sell 90% of its share for $100 million.

Zipmex Asks Court to Protect It from Creditors Until April 2023

Zipmex filed for bankruptcy protection against its Singaporean creditors in 2022, after it had suspended withdrawals for all of its users, citing a "combination of circumstances" beyond its control.

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