World’s largest #Bitcoin exchange suspends US withdrawals.

For the next two weeks Bitcoin users in the US will be unable to withdraw the virtual currency in dollars. Major exchange Mt. Gox cited an unusually high demand as the reason for the suspension, while customers worried the company has run out of cash. Mt. Gox, based in Tokyo, Japan, handles approximately 80 per cent of Bitcoin transactions in the US and 70 per cent internationally. The popularity of the service, which allows customers to buy and sell items with relative anonymity, has led, indirectly, to the current transaction freeze. “Over the past week Mt. Gox has experienced rising volumes of deposits and withdrawals from established and upcoming markets interested in Bitcoin ,” a company statement explained. “This increased volume has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays fo...

Full article: http://www.fromthetrenchesworldreport.com/worlds-largest-...

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