Thailand's Finance Minister has revoked the digital asset business license of Zipmex based on recommendations from the country's Securities and Exchange Commission (SEC). The revocation came into effect on May 28, 2024. Concerns cited in a local media report highlighted the company's financial state and management structure, posing risks to customers. Zipmex, a crypto exchange holding licenses for digital asset trading and brokering, was found to have financial and managerial deficiencies that did not meet regulatory standards. These deficiencies raised doubts about its ability to operate effectively and ethically. The SEC Committee issued a directive in January for Zipmex to address these issues, but the company failed to meet the required improvements within the set timeframe. Consequently, in February, the SEC Committee mandated the transfer of assets back to customers within 15 days.