In brief: Hong Kong crypto exchange Gatecoin ordered to shut down

• The court has ordered Hong Kong-based crypto exchange Gatecoin to cease operations immediately, the company announced yesterday.
• Its suspension came after months of battling to stay afloat, entering liquidation after an unsuccessful attempt to recover funds lost in a dispute with a former payment services provider.
• In a public statement, the company blamed its former payment service provider for the situation. The exchange said it began having issues with banking services in September 2018, after the sudden freeze of its bank accounts in Hong Kong.
• Gatecoin assured customers that it expects to redistribute its remaining assets to the creditors.

Source: CoinDesk