A not-so-known bitcoin exchange by the name of GoXBTC (launched in May of 2013) based in mainland China has announced they’re ceasing operations as of January 18th.
The announcement was made on the website’s homepage, and cites both “operating costs” and “risk[s] of legal uncertainty” as the primary issues behind the closure. Users at the exchange are being urged to withdraw money — albeit it is quite short notice.
GoXBTC says there is a possibility of the service re-opening, but as of current, the legal area surrounding bitcoin in the People’s Republic of China is nothing short of turbulent.
Last month, the People’s Bank of China demanded third-party payment processors stop working with bitcoin exchanges. As such, many exchanges in the country are now finding themselves struggling. (via CoinDesk)