• Thailand’s Securities and Exchange Commission (SEC) is reportedly investigating Zipmex for allegedly violating certain cryptocurrency rules.
• The SEC will inspect whether the platform breached domestic rules when offering digital asset services and products.
• The investigation will focus on Zipmex’s ZipUP and ZipUP+ programs, which allowed users to earn returns from cryptocurrency trading.
The Thai Securities and Exchange Commission (SEC) has recently launched an investigation into Zipmex, a cryptocurrency platform. According to reports, the investigation is being carried out to determine whether the platform has violated certain local cryptocurrency rules.
The SEC is looking into whether Zipmex abode by local rules when providing products and services to customers. The regulator will particularly be looking into the ZipUP and ZipUP+ programs offered by the platform, which allowed users to earn returns from cryptocurrency trading.
The investigation comes at a time when Zipmex is already facing financial difficulties due to the recent downturn in the cryptocurrency markets. The platform has already seen a significant drop in its trading volumes, leading to a decrease in its profits.
The investigation by the Thai SEC is also likely to be welcomed by investors, who are looking to ensure that the platform is complying with all local laws and regulations when it comes to cryptocurrency trading.
The SEC’s investigation into Zipmex is part of a wider effort by the regulator to ensure that cryptocurrency platforms in the country are following the necessary rules and regulations. The regulator has already taken action against several other platforms for allegedly failing to comply with local laws and regulations.
It remains to be seen how the SEC’s investigation into Zipmex will pan out, but it is clear that the regulator is taking a serious approach to ensuring that cryptocurrency platforms in the country are following the necessary rules and regulations. This should provide investors with greater confidence in the platform, as well as in the wider cryptocurrency industry in the country.