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Thai ministry revokes Zipmex’s licences amid financial turmoil

The Thai Ministry of Finance has rescinded all operating licences of cryptocurrency exchange Zipmex, citing non-compliance and financial instability. This decision follows Zipmex’s troubled period marked by halted withdrawals and financial woes linked to its exposure to bankrupt crypto lenders. The revocation is seen as a significant blow to investor confidence and signals a stricter regulatory stance on digital assets in Thailand. Despite attempts at restructuring and legal remedies, the persistent regulatory and operational challenges led to the final withdrawal of Zipmex’s licences, influencing the broader digital asset market landscape in the region.


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