Thai Securities and Exchange Commission (SEC) has filed a police complaint against cryptocurrency exchange Zipmex for not sending transactional information on time.
The financial watchdog said in a press release that Zipmex and its CEO, Akalarp Yimwilai, failed to meet a deadline for sending the information regarding cryptocurrency transactions and wallets. The SEC added that the exchange is now facing a penalty under Section 75 of the Digital Assets Act for failing to meet compliance requirements.
At the same time, Zipmex assures that it is 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 exchange added:
"Customers can rest assured that the company is addressing this matter with your best interest in mind."
Earlier in July, Zipmex filed for bankruptcy protection against its Singaporean creditors after it had suspended withdrawals for all of its users, citing a "combination of circumstances" beyond its control.
The Thailand-based cryptocurrency exchange said that the moratorium would help to protect Zipmex "against third party actions, claims, and proceedings."
