Thailand SEC Still Approves Crypto Companies Amid Zipmex’s Issue

Thailand SEC still approves crypto companies amid Zipmex’s issue. On 4 August, the local news reported that Thailand SEC approved four crypto companies to operate.

The Four Companies 

On 4 August, local news reported Thailand SEC permitted four crypto companies to operate. These companies are Krungthai XSpring or KTX, T-BOX (Thailand), Coindee, and Leif Capital Asset Management.

Even though they have given a permit to work in Thailand, these companies have yet to start operating. Thailand’s SEC is still investigating the operating system before fully opening their businesses.

Now, Thailand has 21 digital assets operators, consists nine brokers, nine exchanges, and three fund managers. The report noted a big company is waiting to enter Thailand. Gulf Innova and Binance Capital Management are going to launch Gulf Binance.

Last year, during the bull market, crypto in Thailand surged almost 600%, making almost everyone aware of it.

The Issue with Zipmex in Thailand

The approval of four crypto companies happened amid Zipmex’s issue. Zipmex, one of the leading exchanges in Thailand, is facing several problems. A few days ago, the Thai SEC released an investigation on Zipmex for halting withdrawals, claiming they violated trading rules.

The Thai SEC stated, “Zipmex (Thailand) might have violated trading rules in the country when they suspended the withdrawals because the reasons [that] the company gave for the suspension, including market fluctuations, were inadequate.”

Related: Zipmex Continues Withdrawals For Selected Altcoins In Z Wallet

On 4 August, Zipmex was back on Twitter to release information about the Global Moratorium Relief. In the tweet, Zipmex also stated that they are committed to resuming all services as soon as possible. They added that they want to rebuild confidence and minimize customers’ concerns.

With this new update, the community is curious about the next step Zipmex will take.

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