Thailand's leading cryptocurrency exchange Bitcoin Co. Ltd. is closing down all of its trading operations.
The exchange announced its decision to discontinue trading on Sept. 2.
"Bitcoin Co. Ltd. has decided to discontinue offering digital exchange services and wallet services at our BX.in.th website in order to focus on other business opportunities."
Customers need to withdraw their funds before Nov. 1, 2019.The five-year-old exchange, which was regulated by the Thai Securities and Exchange Commission, will not seek to hold a Digital Asset Exchange license for the year 2020 and has therefore asked its customers to withdraw their funds before Nov. 1, 2019.The exchange has assured its users that support and guidance will be available during the fund withdrawal process and thanked its customers for their loyalty over the past five years.
The website further stated that all deposits will be disabled after Sept. 6 and trading will be halted as of Sept. 30.Thailand's push for innovationCointelegraph previously reported that while the Thai-based crypto exchange is closing its doors, the Customs Department in Thailand intends to use IBM's Tradelens blockchain solution to track shipping in the country's ports.
Patama Chantaruck, vice-president for Indochina expansion and managing director of IBM Thailand, said at the time that IBM's TradeLens will provide the Thai Customs Department with an automatic and immutable tracking tool, which will lead to a more secure, transparent, efficient and simple workflow.
Thai Cryptocurrency Exchange Bitcoin Co. Ltd. Closing Down Operations
Published on Sep 2, 2019
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.