Thailand based cryptocurrency exchange BX.in.th made a quite abrupt announcement. The exchange will close its trading services very soon to focus on other business opportunities.
The crypto exchange did not provide any particular reason behind this abrupt move. The exchange will terminate all trading services on September 30. It requested traders on the platform to withdraw funds to bank accounts or third-party wallets by November 1. Also, Bitcoin Co. will also disable deposits on the exchange on September 6. Moreover, the Thai exchange will not renew its compulsory operational licenses from the Securities and Exchange Commission for the upcoming year. However, it would continue to function post-November to address any issues faced by customers or any potential issue that may arise in the future. This has thus eased the panic in the exchange’s customers.
The exchange had been operative for almost half a decade. Thai company Bitcoin Co. Ltd. operated its functions. The exchange has assured all kind of support and guidance to the users in the process of withdrawal of funds. BX.in.th has expressed gratitude towards its customers by thanking them for their loyalty over the past five years.
BX.in.th’s recent 24-hour volume was valued at over $10 million, the majority in bitcoin, as per the source.