oldest Thai crypto exchange which operates more than 5 years without any hacking issue, announced that they will stop exchange business.
Thailand started crypto regulations in 2017 and amendment on 2018.
detailed regulations but very heavy conditions.
required details are in my previous article.
as you can see in previous article, running a crypto currency exchange needs heavy financial conditions such as licence fee and paid capital limits.
here is the announcement of BX Thailand.
"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.
This means that after September 30th 2019 all trading on the BX.in.th will be stopped.
We ask that all customers withdrawal any funds held at the BX.in.th website into their own bank account or digital wallet.
The company will not be seeking to hold an SEC issued Digital Asset Exchange license for the year 2020, and we ask all customers to withdraw their funds before November 1st, 2019.
After 1 November 2019, the company will continue to open the BX.in.th website only as a method for customers to contact the company about outstanding issues.
All deposits will be disabled after September 6th, 2019.
If you need any assistance in withdrawing funds please open a support ticket and our staff will be happy to assist you.
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."