One of Thailand’s most popular cryptocurrency exchanges, Bitcoin (BX.in.th), announced that it would stop digital asset trading services. Thailand’s leading cryptocurrency exchange Bitcoin Co. Ltd. (BX.in.th) is suspending all transactions.
The exchange did not provide any specific reason behind this sudden move, but said it would only focus on other business opportunities. The exchange has decided to end all trading services on September 30, 2019 and has asked the traders on the platform to withdraw funds to their bank accounts or third-party wallets by November 1. In addition, the deposit will not be available on the exchange from September 6.
The Thai exchange said it will not renew its mandatory operating license by the Securities and Exchange Commission next year.
Customers need to withdraw funds before November 1, 2019.
The exchange which is 5 years old, regulated by the Thai Securities and Exchange Commission does not intend to hold digital asset exchange licenses for 2020, so it has asked its clients to withdraw funds before November 1, 2019.
The website also said that after September 6, all deposits will be deactivated and trading will stop starting September 30. The announcement further goes on to thank all the loyal customers of the exchange and says that all the funds are safe and again asks customers to remove their funds before exchange shuts down.