Bitcoin Exchange Tradehill Shuts Down to Deal with Regulatory Issues

The site has promised that the closure is temporary, but it hasn't provided a timeframe

While the Bitcoin world is trying to adjust to the new scrutiny and put on a brave face, things aren't going as well as they used to.

Government agencies are targeting Bitcoin traders and, while some like Mt. Gox are trying to adapt, others are giving up, at least for now.

"We have recently made the decision to temporarily suspend trading on the Tradehill platform, due to banking and regulatory issues. This decision has not been made lightly and we regret having to take such action," the Tradehill Bitcoin exchange announced on its homepage.

The site claims that the issue is temporary, but it remains to be seen whether it will be able to adapt to regulations which are now starting to be enforced on Bitcoin companies.

The company, which is based in the US, didn't go into details regarding the closure, but it's safe to assume that government scrutiny has prompted it to halt trading while it sorts out the paperwork.

Japan's Mt. Gox, the world's largest Bitcoin exchange, faced similar problems when several million dollars were seized over regulatory issues from an account it owned with a US payments company.

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