Thai SEC files police report on Zipmex, alleging ‘incomplete’ info for compliance procedures

cointelegraph.com:

Thailand’s Securities and Exchange Commission, or SEC, has accused crypto exchange Zipmex and its co-founder Akalarp Yimwilai of non-compliance with local laws and referred the matter to the police.

In a Wednesday announcement, the Thai SEC alleged Zipmex had not provided information on digital wallets and crypto transactions in compliance with the country’s Digital Assets Act. The regulator claimed that both Akalarp and the exchange forwarded incomplete information outside of an approved timeframe without providing a “reasonable cause” or excuse.

“Such actions by Zipmex and Mr. Akalarp are considered to be non-compliance with the competent official's orders, which is an offense and has a penalty under Section 75 of the Digital Assets Act,” said the regulatory body. “The SEC has accused Zipmex and Mr. Eklarp to the [Cyber Crime Investigation Bureau], to consider further legal action.”

ก.ล.ต. กล่าวโทษ Zipmex และผู้บริหาร ต่อ บช.สอท. กรณีไม่ปฏิบัติตามคำสั่งพนักงานเจ้าหน้าที่ https://t.co/VDTTcmaNsw

Zipmex responded to the SEC’s earlier request for information in a Wednesday blog post, saying it was “in the process of compiling relevant documents that belong to both Zipmex itself and Zipmex Pte. Ltd., an entity which is not under the regulatory jurisdiction of the Thai SEC”:

The crypto exchange suspended withdrawals in July, citing a “combination of circumstances beyond [its] control.” At the time, Zipmex co-founder Marcus Lim denied reports the exchange was experiencing financial difficulties. However, the firm later filed for debt relief in Singapore and was granted more than three months of creditor protection following a decision from the country’s High Court. The exchange has until Dec. 2 to present a restructuring plan.

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