Mt Gox Saga Nears End of the Road — Creditors Required to Register With Exchanges, Bitstamp Selected by Trustee – Bitcoin News

The Mt Gox creditors received new information about their claims. They now have time until January 10, 20,23 (Japanese Time) to apply for a repayment plan. The latest notice says that any creditors that wish to receive payment, must finish the “selection and registration” section on the system platform by the deadline. The court trustee Nobuaki Kobayashi has also revealed that Bitstamp is among the chosen exchanges.

Mt Gox creditors were given an expiration date to register on a select exchange

Roughly 38 days ago, the Mt Gox trustee Nobuaki Kobayashi, from the Tokyo-based bankruptcy court system, told creditors that the rehabilitation custodian is “currently preparing to make repayments.” Interestingly, the day before the trustee’s notice, 10,001 bitcoin associated with Mt Gox moved after sitting idle since December 19, 2013.

Another 5,000 bitcoin linked to Mt Gox was moved five days later after nine years of inactivity. Now Kobayashi has issued a deadline notice that explains creditors must finish the platform’s “selection and registration” section by January 10, 2023.

Mt. Gox has just released the following notice:

Deadline for registration and selection is January 10, 2023, Japan time. Any creditor who wants to repay must register on the system and complete selection by that date.

Since long ago, creditors have known that they will need to register with selected cryptocurrency exchanges and provide basic KYC/AML information. Mt Gox creditors will need to register at the designated exchange. The names of the other exchanges were not disclosed as of this writing. However, Bitstamp announcedOn Friday, the Luxembourg-based trading platform was selected as one of the top crypto exchanges.

“Bitstamp is pleased to announce that we are supporting the rehabilitation process for Mt. Gox creditors,” the exchange said in a blog post about the subject. “Rehabilitation creditors who choose Bitstamp as their cryptocurrency exchange will receive the rehabilitation assets via their Bitstamp account.”

According to a Mt Gox creditor, users need to log into the system and perform the identity verification process, and then fully complete the “selection and registration” section. Mt. Gox creditors then have the option to select either fiat, or a combination of crypto and fiat.

After years of waiting, and an extremely difficult rehabilitation process, Mt Gox claimants should finally be able to receive funds. There’s no way to verify how many creditors will choose to get a full fiat payment, but it’s been said by a few creditors that choosing the BTC payment was a better option.

Bitstamp’s announcement notes that due to regulatory reasons it cannot support Mt Gox creditors who are residents of China, Iran, Macao SAR, Singapore, South Korea, Japan, North Korea, Syria, Cuba, or three Ukraine regions which include Crimea, Donetsk, and Luhansk.

In this story, tags
24000 claimants, Base Repayment Deadline, Bitcoin, Bitcoin (BTC), BTC, Claimants, creditors, Exchange, Exchange hacked, Japan, KYC, KYC Compliance, Mt Gox Trustee, Mt. Nobuaki Kobayashi’s rehabilitation plan for Gox, payments, Restriction Refer Period, Settlement Plan, Tokyo District Court and Trustee

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Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been active since then. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 6000 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

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