The bank questioned TDAX's lack of an operating licence. TDAX, a privately owned Thai exchange for the trading of digital assets, registered its business with the Commerce Ministry's Business Development Department as a digital currency business upon receiving an operating licence, said TDAX founder and chief executive Poramin Insom. "The bank called and asked whether there was an operating licence for proof, but I answered that this business was not under legal jurisdiction [hence the absence of an operating licence], so the bank said it would terminate the company's bank account [with Bangkok Bank], as this business had no licence," Mr Poramin said. Termination of TDAX's bank account with Bangkok Bank has not affected trading of bitcoin and 10 other cryptocurrencies, he said. Meanwhile, an informed source at Bangkok Bank said TDAX had opened a savings account at the bank, but bank officials noticed that some documents had not been given yet, therefore the bank decided to block all transactions through the account after the central bank asked for cooperation from banks to avoid involvement in cryptocurrency transactions.

Source: Bangkok Post February 23, 2018 20:03 UTC