Saturday June 22,2013 : BITCOIN EXCHANGE ‘TEMPORARILY' SUSPENDS U.S. DOLLAR DEALS
Tokyo-based Mt. Gox apparently battles to keep pace with demand
In a move that it claims is due to excessive demand presumably overloading its systems, the main Bitcoin exchange, Tokyo-based Mt. Gox, has ‘temporarily' suspended U.S. dollar withdrawals on its system for at least the next two weeks.
The virtual currency exchange said in a statement this week that rising volumes of deposits and withdrawals from ‘established and upcoming' markets have created an overload on its systems.
The statement, issued June 20 on the Mt. Gox website says that the volume of transactions has "…made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers.
"This is especially so for those in the United States who are requesting wire transfer withdrawals from their accounts. We are currently making improvements to process withdrawals of United States Dollar (USD) denominations, and as a result are temporarily suspending cash withdrawals of USD for the next two weeks.
"Please be reassured that USD deposits and transfers to Mt. Gox will remain unaffected, as will deposits and withdrawals in other currencies, and we will be resuming USD withdrawals once the process is completed."
The statement goes on to reveal that the exchange is about to debut “….a dramatically improved trading engine."
Earlier this month Bitcoin took a hit when the US Department of Homeland Security seized its Dwolla account on grounds that that company had not registered as a money transmitter