Bitcoin Trading Suspended in Thailand

July 31, 2013 (Wed): Bitcoin Co. Ltd., via its online statement announced that the company has suspended its operations based on advice received from Bank of Thailand (BOT) after a conference held between both parties. The main reason the company didn’t get an approval is due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the Bitcoin activities such as buying/selling Bitcoins are illegal in Thailand.

However, Bitcoin Co. Ltd. has submitted currency exchange application for its Bitcoin trading business but still under BOT’s review and no further comment received from BOT on the application.

Author: Terry KS

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