The cryptocurrency exchange Zipmex is the subject of a fresh inquiry by Thailand's Securities and Exchange Commission (SEC), which believes it may have infringed Thai law.
According to Bloomberg, local authorities are looking into a practice that might violate the codes of conduct for companies that offer services related to digital assets. This relates to the specific digital assets things that it offers.
The Thai SEC has given Zipmex until January 12 to respond and clarify if it has been operating illegally as a "digital-asset fund manager" in Thailand. If this is the case, the corporation would not have been able to legally operate in the nation without first acquiring the necessary licencing.
The company has agreed to sell Zipmex to V Ventures, a branch of Thoresen Thai Agencies Pcl, for $100 million.