After Passing Strict Regulatory Standards, Zipmex Crypto Exchange Granted License by Thai SEC

    The Asia-Pacific crypto-fiat exchange Zipmex has been given a digital assets exchange license by the Thai Securities and Exchange Commission (SEC).

    As stated in a press release from January 20, the Thai SEC and the country’s Ministry of Finance have approved Zipmex to have its license, which is known for very strict regulatory requirements like having applicants proving a minimum of 50 million baht (which is about $1.65 million) shareholder equity and working with the highest standard technologies for both trading and security. The companies granted the license function as financial institutions and must respect the Anti-Money Laundering reporting regulations.

    About 30 Crypto Exchanges Have Been Rejected

    It seems there have been around 30 crypto exchanges that didn’t get their Thai SEC’s license as a result of implementing poor security and Know Your Customer (KYC) measures. The license is a part of Thailand’s regulatory framework for digital assets. Dr. Sahit Limpongpan and Prof. Dr Chaiya Yimwilai, who are the former Stock Exchange chairman and the former Vice Minister to the Deputy Prime Minister respectively, happen to now be on Zipmex’s advisory board.

    Zipmex Is Partner with the AEC Securities Public Company

    Zipmex and Thailand’s AEC Securities Public Company, which is specialized in investment banking, securities and brokerage, are partners and try to attract both institutional and retail investors to conduct businesses in the country. Now that it has the SEC license, Zipmex is expected to start operating in Thailand very soon, especially after it has launched its platforms in Singapore, Indonesia and Australia.

    Thai Authorities More Open to the Crypto Sector

    Even if they have tried to ban Bitcoin (BTC) in 2013, the Thai authorities are now more open when it comes to the crypto sector. As a matter of fact, the Thai SEC even granted 4 exchanges their licenses back in January 2019: Satang Corporation, Bitkub Online Co., Bitcoin Exchange Co and Coins TH, which is a crypto broker-dealer.

    After this has happened, the Securities and Exchange Act amendment was released in February the same year, legitimizing tokenized securities that are issued through a blockchain technology.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Oana Ularu
    Oana Ularu
    Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Danone Launches ‘Track & Connect' Putting Baby Formula Supply On Blockchain Technology

    Danone is applying for the first time blockchain, aggregation and serialisation technologies for its infant formula packs. David Boulanger, the company’s senior VP of...

    Deribit Exchange Launches Ethereum Daily Options After Success With Bitcoin Contracts

    The Deribit Exchange specializing in crypto derivatives has launched daily Ether (ETH) options, an announcement from Monday and made on Twitter says. The strike price...

    Central Bank of Russia Proposes Amendments To Legal Framework for Tokenization

    The proposed cryptocurrency legislation in Russia could change a lot, now that a new bill for tokenization has been filed. On February 17, the Central...

    Ripple (XRP) Price Analysis (February 17)

    Key Highlights XRP market is under a falling force by the US dollar price valuation. XRP/USD pair’s value now averages a low point at...

    Binance Applies for Singapore Crypto License Under The New Payment Services Act

    Binance crypto exchange through its parent company has applied for Singapore’s new operating license. This follows an upgrade of laws governing crypto in the...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.