Thailand: Filed Public Lawsuit Against Zipmex for Alleged Violations of the Digital Asset Act

On July 19, 2024, the Securities and Exchange Commission (SEC) filed a lawsuit against the cryptocurrency exchange Zipmex. The SEC alleges that Zipmex provided misleading information about the trading price and volume of the Zipmex Token (ZMT) on its website. According to the SEC, the displayed prices and volumes for 2021-2022 were inaccurate and did not reflect actual trades, potentially misleading investors. Additionally, the website failed to show trading prices for coins traded at low prices, further contributing to investor misunderstanding. The SEC claims that these actions violate Section 40 of the Digital Asset Act.