Signed by Finance Minister Arkhom Termpittayapaisith on October 8, the notice said Bitcoin Co&rsquo;s move to reduce registered paid-up capital to THB3.12 million on February 17, 2020, lay off employees and stop business operations since April 3, 2020, were against SEC regulations.

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However, if Bitcoin Co does not agree with the order, the company can file a lawsuit with the Administrative Court within 90 days after acknowledging the order.

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Bitcoin Co’s cryptocurrency, digital token trading business licences nixed

The Finance Ministry revoked Bitcoin Co’s cryptocurrency and digital token trading business licences for violating the ministry’s announcement and Securities and Exchange Commission (SEC) regulations, according to a Royal Gazette notice published on Tuesday.