Thailand-based cryptocurrency trading platform Zipmex has announced that it is suspending trading of digital assets until operations are brought into compliance with national regulations - for now, at least for clients in the company's home country. The suspension of activities occurred at the request of the Securities and Exchange Commission (SEC) of Thailand, according to the official statement of the cryptocurrency platform: “Zipmex is obliged to temporarily suspend its business operations, trading and storage of all types of digital assets until the activities are brought into compliance with the criteria established SEC of Thailand." The exchange team clarified that withdrawals will be processed as usual until January 31, 2024. After this date, customers will need to contact Zipmex support for assistance with withdrawals. The SEC of Thailand has limited the activities of the cryptocurrency platform due to violation of the rules for storing digital assets, using user deposits to cover operating expenses, as well as withdrawing assets and redirecting clients to the Singapore platform Zipmex Pte. In March, cryptocurrency exchange Zipmex announced a possible liquidation and informed shareholders that it lacked funds to maintain operations.

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