Zipmex ordered to resume trading, withdrawals, following worrying freeze

14 Sept 04:09 Key points summarised by AI

Thailand's SEC mandated Zipmex to resume trading and digital asset withdrawals within three days, responding to investor complaints over a recent freeze.
The directive, issued after discussions with the Department of Special Investigation (DSI), aims to protect hundreds of investors whose assets were suspended in ZipUp+ and Z Wallet.
Zipmex Global's liquidity crisis, caused by exposure to struggling crypto lenders Babel Finance and Celsius Network, triggered the initial suspension of withdrawals.
Former finance minister Korn Chatikavanij alleged Zipmex might have illegally used customer assets for lending and profit, violating SEC regulations.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.