INTERNATIONAL BUSINESS TIMES – The Tokyo-based exchange, which handles around 70% of all global Bitcoin transactions and 80% of those in the US, said it has experienced unusually high volumes of deposits and withdrawals recently, which “made it difficult for our bank to process the transactions smoothly and within a timely manner,” causing delays for its customers.
Customers are able to continue trading in any other currency and Mt. Gox hasn’t suspended deposits in US dollars, so users can put cash in, but are unable to convert their Bitcoins into dollars to withdraw it.
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The move will doubtless go down badly with customers, especially as Mt. Gox is currently being sued by CoinLab, another Bitcoin exchange, for $75m (£48m) on allegations that it had failed to deliver on a deal that would see Mt. Gox offload much of its US customer base to the Seattle-based CoinLab.
Read more at the International Business Times.
