No Result
View All Result
No Result
View All Result
No Result
View All Result
\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Zipmex And Mounting Liquidity Issues<\/h2>\n\n\n\n

Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

Zipmex And Mounting Liquidity Issues<\/h2>\n\n\n\n

Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Zipmex has been under the SEC's radar since September 2022, when the commission reported non-compliance issues related to local laws. Subsequent investigations escalated, with recent probes specifically focusing on allegations regarding digital asset fund management without authorization.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

Zipmex And Mounting Liquidity Issues<\/h2>\n\n\n\n

Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After January 31, 2024, users seeking fund or asset withdrawals will need to directly engage with Zipmex's customer support, as withdrawals through their website and app will cease. The suspension adds to a series of challenges that Zipmex has recently encountered. In April, the exchange requested an extension on its debt in Singapore due to liquidity concerns and previous regulatory probes.<\/p>\n\n\n\n

Zipmex has been under the SEC's radar since September 2022, when the commission reported non-compliance issues related to local laws. Subsequent investigations escalated, with recent probes specifically focusing on allegations regarding digital asset fund management without authorization.<\/p>\n\n\n\n

See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

Zipmex And Mounting Liquidity Issues<\/h2>\n\n\n\n

Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
  • Zipmex filed for bankruptcy protection in Singapore this year.<\/li>\n<\/ul>\n\n\n\n

    After January 31, 2024, users seeking fund or asset withdrawals will need to directly engage with Zipmex's customer support, as withdrawals through their website and app will cease. The suspension adds to a series of challenges that Zipmex has recently encountered. In April, the exchange requested an extension on its debt in Singapore due to liquidity concerns and previous regulatory probes.<\/p>\n\n\n\n

    Zipmex has been under the SEC's radar since September 2022, when the commission reported non-compliance issues related to local laws. Subsequent investigations escalated, with recent probes specifically focusing on allegations regarding digital asset fund management without authorization.<\/p>\n\n\n\n

    See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

    Zipmex And Mounting Liquidity Issues<\/h2>\n\n\n\n

    Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

    Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

    Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

    Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

    First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

    Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

    In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

    Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

    Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

    Twitter Instagram Youtube LinkedIn Facebook RSS
    ADVERTISEMENT
    \n
  • The crypto exchange faced challenges, including liquidity issues and regulatory probes.<\/li>\n\n\n\n
  • Zipmex filed for bankruptcy protection in Singapore this year.<\/li>\n<\/ul>\n\n\n\n

    After January 31, 2024, users seeking fund or asset withdrawals will need to directly engage with Zipmex's customer support, as withdrawals through their website and app will cease. The suspension adds to a series of challenges that Zipmex has recently encountered. In April, the exchange requested an extension on its debt in Singapore due to liquidity concerns and previous regulatory probes.<\/p>\n\n\n\n

    Zipmex has been under the SEC's radar since September 2022, when the commission reported non-compliance issues related to local laws. Subsequent investigations escalated, with recent probes specifically focusing on allegations regarding digital asset fund management without authorization.<\/p>\n\n\n\n

    See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

    Zipmex And Mounting Liquidity Issues<\/h2>\n\n\n\n

    Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

    Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

    Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

    Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

    First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

    Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

    In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

    Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

    Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

    Twitter Instagram Youtube LinkedIn Facebook RSS
    ADVERTISEMENT
    \n
      \n
    • The crypto exchange faced challenges, including liquidity issues and regulatory probes.<\/li>\n\n\n\n
    • Zipmex filed for bankruptcy protection in Singapore this year.<\/li>\n<\/ul>\n\n\n\n

      After January 31, 2024, users seeking fund or asset withdrawals will need to directly engage with Zipmex's customer support, as withdrawals through their website and app will cease. The suspension adds to a series of challenges that Zipmex has recently encountered. In April, the exchange requested an extension on its debt in Singapore due to liquidity concerns and previous regulatory probes.<\/p>\n\n\n\n

      Zipmex has been under the SEC's radar since September 2022, when the commission reported non-compliance issues related to local laws. Subsequent investigations escalated, with recent probes specifically focusing on allegations regarding digital asset fund management without authorization.<\/p>\n\n\n\n

      See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

      Zipmex And Mounting Liquidity Issues<\/h2>\n\n\n\n

      Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

      Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

      Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

      Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

      First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

      Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

      In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

      Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

      Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

      Most Read

      Subscribe To Our Newsletter

      By subscribing, you agree with our privacy and terms.

      Follow The Distributed

      Twitter Instagram Youtube LinkedIn Facebook RSS
      ADVERTISEMENT
      \n

      The crypto exchange Zipmex has suspended all trading activities in Thailand. This decision, as outlined in their recent statement<\/a>, is aimed at compliance with the standards set by Thailand's Securities and Exchange Commission (SEC). Additionally, the crypto exchange has guided its customers on withdrawing their funds.<\/p>\n\n\n\n

        \n
      • The crypto exchange faced challenges, including liquidity issues and regulatory probes.<\/li>\n\n\n\n
      • Zipmex filed for bankruptcy protection in Singapore this year.<\/li>\n<\/ul>\n\n\n\n

        After January 31, 2024, users seeking fund or asset withdrawals will need to directly engage with Zipmex's customer support, as withdrawals through their website and app will cease. The suspension adds to a series of challenges that Zipmex has recently encountered. In April, the exchange requested an extension on its debt in Singapore due to liquidity concerns and previous regulatory probes.<\/p>\n\n\n\n

        Zipmex has been under the SEC's radar since September 2022, when the commission reported non-compliance issues related to local laws. Subsequent investigations escalated, with recent probes specifically focusing on allegations regarding digital asset fund management without authorization.<\/p>\n\n\n\n

        See Related:<\/em><\/strong> Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility<\/a><\/p>\n\n\n\n

        Zipmex And Mounting Liquidity Issues<\/h2>\n\n\n\n

        Last year, Zipmex filed for an extension to its moratorium agreement in Singapore's bankruptcy court, according to a report by Coindesk<\/em>. This step was triggered by the crypto contagion arising from the collapse of the $60 billion Terra ecosystem. Loans extended to entities like Babel Finance and Celsius Network went unpaid amidst Terra's collapse, contributing to Zipmex's financial turmoil.<\/p>\n\n\n\n

        Zipmex's<\/a> solicitors initiated the bankruptcy protection filing on behalf of the company's distinct entities, spanning several jurisdictions, aiming to secure legal protection against actions by third parties and claims for up to six months. The five entities that sought protection include Zipmex Asia Pte. Ltd., Zipmex Pte. Ltd., Zipmex Company Ltd. (Thailand), PT Zipmex Exchange Indonesia, and Zipmex Australia Pty. Ltd.<\/p>\n","post_title":"Zipmex Halts All Trading Activities In Thailand","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"zipmex-halts-all-trading-activities-in-thailand","to_ping":"","pinged":"","post_modified":"2023-11-27 05:49:47","post_modified_gmt":"2023-11-26 18:49:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14537","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8805,"post_author":"13","post_date":"2022-12-14 22:12:09","post_date_gmt":"2022-12-14 11:12:09","post_content":"\n

        Financial regulators in Bangkok are planning to introduce stringent laws on digital assets aimed at \u2018\u2018investor protection,\u2019\u2019 according to a statement<\/a> sent to a local media publication. The Thai Securities and Exchange Commission has justified the steps following the collapse of FTX and Celsius \u2013 which affected investors in the region.<\/p>\n\n\n\n

        Such volatility, according to the agency, \u2018\u2018reflects the vulnerability of the digital asset industry and the lack of proper oversight.\u2019<\/em>\u2019 SEC\u2019s Fintech department has vowed to take a more proactive approach to protect investors in several ways.\u00a0 <\/p>\n\n\n\n

        First, Thailand\u2019s SEC is creating a working committee comprising government authorities and private sector players to propose how to amend the current laws and regulations according to the changing market trends.<\/p>\n\n\n\n

        Thai SEC Plans To Curb Digital Assets Advertisements<\/h2>\n\n\n\n

        In addition, the commission is also following the steps of its US counterparts in restricting crypto advertisements by celebrities and influencers. SEC statement said, \u2018\u2018several digital asset service providers have spent money on advertising by hiring celebrities to lure investors, without disclosing information required by the rules.\u2019\u2019<\/em> It noted that \u2018\u2018all these events reflect the vulnerability of the digital asset industry and the lack of proper oversight.\u2019\u2019<\/em><\/p>\n\n\n\n

        Thai authorities are also exploring using a distributed ledger technology<\/a> (DTL) to boost its oversight role \u2013 a step taken by countries like Singapore, the UK, and Japan. Other interest areas include the risks involved in protecting investors\u2019 assets, restricting the conflict of interest, and enhancing cybersecurity.<\/p>\n\n\n\n

        Currently, Thailand allows for the trading of cryptos but restricts its use in payments. The Southeastern country is pushing for a central bank digital currency<\/a> (CBDC) \u2013 with a retail pilot program set to launch this month.<\/p>\n","post_title":"Thailand Tightens Crypto Rules In The Wake Of The FTX Collapse And Market Volatility","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"thailand-tightens-crypto-rules-in-the-wake-of-the-ftx-collapse-and-market-volatility","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/central-bank-digital-currencies-cbdcs\/\nhttps:\/\/www.thedistributed.co\/distributed-ledger-technology\/","post_modified":"2022-12-14 22:13:47","post_modified_gmt":"2022-12-14 11:13:47","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8805","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

        Most Read

        Subscribe To Our Newsletter

        By subscribing, you agree with our privacy and terms.

        Follow The Distributed

        Twitter Instagram Youtube LinkedIn Facebook RSS
        ADVERTISEMENT

        Thailand

        Most Read

        Subscribe To Our Newsletter

        By subscribing, you agree with our privacy and terms.

        Follow The Distributed

        Twitter Instagram Youtube LinkedIn Facebook RSS
        ADVERTISEMENT
        This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.