Thai SEC revokes license of cryptocurrency exchange ZIPMEX

The Securities and Exchange Commission of Thailand (SEC) has revoked the operating license of the virtual currency exchange ZIPMEX.
On the 10th (local time), the Thai SEC announced that "ZIPMEX will no longer operate as of May 28th.
"ZIPMEX has no authority to operate a digital asset exchange or virtual currency brokerage in Thailand," the company said.
The SEC ordered the exchange to suspend service to Thai users until it fixed the problem, but the SEC's Treasury Secretary found that the exchange is still in violation of the order.
Additionally, the SEC said ZIPMEX should return assets to customers or comply with customer requests.
Following the downturn in the crypto asset market in 2022, ZIPMEX was investigated by the SEC. The exchange is VVenture
The company was reportedly under investigation for its acquisition of companies and for operating in Thailand without regulatory approval.