Altcoin News: Crypto Exchange Bitcoin Co. Will Close After 5 Years in Business
One of Thailand’s largest exchanges Bitcoin Co. Ltd. (BX.in.th) this Monday announced the impending exit from the business. According to a blog post on BX.in.th, the company will engage in the development of “other commercial opportunities,” which it refused to cite.
Starting September 6, users will no longer be able to make deposits, and after September 30, the exchange will stop servicing transactions. BX.in.th customers need to withdraw their funds to bank accounts or digital wallets no later than November 1. After this date, the exchange’s website will work exclusively for users to communicate with it.
The company also clarifies that it will not receive a virtual asset exchange license at the local Securities and Exchange Commission for 2020.
“We thank our loyal customers for using our BX.in.th services over the past 5 years and trust you have been happy with the service provided. Please note that all fund are completely safe and all customers will receive 100% of their funds returned to them,” the exchange concludes.
According to CoinMarketCap, the volume of trading on BX.in.th over the past day amounted to about $15 million, of which more than 70% falls on a couple of Bitcoins with Thai baht.
Against the background of today’s announcement, the Bitcoin exchange rate on BX.in.th at a certain point fell to 199,999 baht, which corresponds to $6,500, whereas on most world exchanges this morning cryptocurrency is trading about $9,800.
Author: Marko Vidrih