News Thailand's Leading Bitcoin Exchange,, Ends Operations

Thailand’s Leading Bitcoin Exchange,, Ends Operations


- Advertisment -

Bitcoin Co. Ltd. (, Thailand’s driving bitcoin exchange, has reported the end of operations. In a September 2 declaration on its site, the trade said that it would cease its wallet and computerized trade administrations. The firm has not given any solid purposes behind the conclusion however has declared that it is concentrating on “different business openings.”

This implies after September 30th 2019 all exchanging on the will be halted. After 1 November 2019, the organization will keep on opening the site just as a way for clients to contact the organization about exceptional issues. All stores will be handicapped after today, September 6, 2019.

The declaration has anyway had a fairly sudden outcome. The cost of Bitcoin dove to a low of US$6,500. Panicked speculators moving to offload the advantages caused the value plunge.

Thailand-based columnist, Jon Russell tweeted:

“Bitcoin was sold on BX for as low as $6,500 (200K THB) following the announcement — that’s a steep discount on the current price of $9,760, although prices have risen since then Right now, BTC trading for around 270K, which is roughly $8,800.”

The trade isn’t just the most seasoned yet in addition the greatest BTC exchanging stage Southeast Asia. The Exchange has been operational since 2013, enabling financial specialists to buy digital money for Thai baht.

Thailand was perhaps the earliest adopter of digital money use, however the utilization of Bitcoin had been restricted in 2013. The Bank of Thailand by and by lifted the boycott in 2014 however washed their hands off any close to home misfortunes emerging from its exchange.

The Exchange in its conclusion declaration additionally said that it would not recharge its SEC operational permit in 2020. The announcement did not just purpose a transitory plunge in the expense of Bitcoin yet aroused fraudsters out to make a fast buck from the panicked financial specialists. As a delineation, the Thai SEC cautioned about a faked internet-based page partnering itself with Bitcoin Co. Ltd. ( The Facebook page was requesting assets from the exchange’s dealers.

The nation, in any case, continues pushing the envelope in cryptographic money and blockchain use. Its Customs Department is going to utilize IBM’s blockchain advancement for shipment following.

The Tradelens blockchain arrangement from IBM will be utilized in Thailand’s ports as a changeless however programmed following apparatus. The blockchain arrangement will offer ascent to a straightforward, secure, and proficient work process.



Please enter your comment!
Please enter your name here

Latest news

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly paying attention to cryptocurrencies as a possible payment tool. Several...

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...
- Advertisement -Thailand's Leading Bitcoin Exchange,, Ends Operations

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...

Must read

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly...
- Advertisement -

You might also likeRELATED
Recommended to you