Zipmex’s Recovery Plans Are Getting Harder

Thailand is investigating whether embattled crypto exchange Zipmex violated local rules when offering certain digital asset products.

Thailand, the struggling crypto exchange ZipmexIt is investigating whether .

Zipmex filed for bankruptcy in July 2022. The Singapore Supreme Court then granted the cryptocurrency exchange more than three months of creditor protection. Continuing its recovery plans, the company took a new step and requested a meeting. Then came the news of the investment for the stock market, which had secured creditor protection for all its assets until April of next year, and things seemed to be getting better. Now, Thailand has put Zipmex under scrutiny.

Zipmex Under Review in Thailand

According to a letter seen by Bloomberg, the country’s Securities and Exchange Commission announced on Dec. 28 as the Chief Executive of Zipmex Thailand. Achalarp YimwilaiHe wrote to .

Stating that the company may be operating as a “permissive digital asset fund manager,” the SEC gave Zipmex until January 12 for a statement.

Zipmex Asia Pte. last month, Thoresen is being acquired by V Ventures, a subsidiary of Thai Agencies PCl, for approximately $100 million, said a person familiar with the matter. The Asian crypto exchange is being restructured after falling victim to a protracted bear market for digital currencies.