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Following the SEC’s accusations, the Cyber Crime Investigation Bureau in Thailand will now decide whether to file a lawsuit against Zipmex.The Securities and Exchange Commission (SEC) of Thailand has reported the cryptocurrency exchange Zipmex and its co-founder Akalarp Yimwilai for allegedly breaking local regulations.The Thai SEC claimed in a statement on Wednesday that Zipmex had not complied with the requirements of the<a href="https://www.coingabbar.com/en/gabbar-gbr-token" rel="noopener noreferrer nofollow"> country’s Digital Assets</a> Act by providing information on digital wallets and cryptocurrency transactions. The regulator asserted that without a “reasonable cause” or justification, Akalarp and the exchange transferred incomplete information outside of the permitted timeframe.According to the regulatory body, Zipmex and Mr. Akalarp’s acts “are regarded to be non-compliance with the competent official’s orders,” which is an offence and is subject to punishment under Section 75 of the Digital Assets Act. In order for the [Cyber Crime Investigation Bureau] to contemplate taking additional legal action, the SEC charged Zipmex and Mr. Eklarp.In a blog post published on Wednesday, Zipmex responded to the SEC’s previous request for information by stating that it was “processing compiling necessary papers that belong to both Zipmex itself and Zipmex Pte. Ltd., an entity which is not under the regulatory authority of the Thai SEC”:Withdrawals were halted by the cryptocurrency exchange in July due to a “combination of factors beyond [their] control.” Marcus Lim, a co-founder of Zipmex, rejected rumours that the exchange was having financial issues at the time. But after filing for debt relief in Singapore, the company was given more than three months of creditor protection as a result of a ruling from the High Court of that nation. The deadline for the exchange to submit a restructuring plan is December 2.A town hall meeting with its financial and legal advisors will be held online on September 14 for both English and Thai speakers, according to a message posted on Zipmex’s Facebook page on September 1. The company runs cryptocurrency exchanges in Singapore, Australia, Thailand, and Indonesia.Get more crypto related updates on :-<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english</a>

Thai SEC submits a police report on Zipmex

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