MoneyNews

Largest bitcoin exchange in Thailand announced the closure

UNITED STATES, WASHINGTON (OBSERVATORY) — Thailand’s leading cryptocurrency exchange Bitcoin Co. Ltd. (BX.in.th) announced that it will cease all operations on September 30th. Users must withdraw all funds by November 1.

So, the exchange is not going to renew the license for providing trade in digital assets from the local Securities and Exchange Commission for 2020. Deposits will be stopped on September 6th.

Representatives of the exchange thanked the loyal users for five years of work, stressing that all the funds are completely safe, but still did not reveal the reasons for closing the business.

Interestingly, at the moment, the region is actively promoting another site – BitKub. ForkLog sources say that the real reason for the closure of BX.in.th could be pressure from regulators with the assistance of a new player.

Recall that at the end of last year it became known that the South Korean Upbit also intends to enter the Thai market.

Online:

This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

OBSERVATORY NEWS — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.

Contact us: [email protected]

Stay connected with News Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.

Support The OBSERVATORY from as little as $1 – it only takes a minute. Thank you.

We are NEWS OBSERVATORY — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes OBSERVATORY possible came from you.