Zipmex: Has suspended deposit and trading services in Thailand

ChainCatcher news, according to The Block, based on a statement posted by the cryptocurrency exchange Zipmex on its Facebook page, the exchange has halted deposit and trading services in Thailand to comply with the regulations of the Thai Securities and Exchange Commission. Withdrawals will be processed normally until January 31, 2024, after which customers will need to contact the exchange's customer support team for withdrawal assistance.

It is reported that Zipmex Thailand will face penalties from the Thai Securities and Exchange Commission due to the exchange's alleged misuse of digital asset custody services and directing customers to the Singapore-based exchange Zipmex Pte, resulting in a conflict of interest.