Mt Gox Saga Approaches End of the Road: Creditors Must Register With Exchanges, Bitstamp Selected by Trustee – Bitcoin News

Mt Gox creditors received new information about their claims and it appears that they now have until January 10, 2023 (Japan time) to sign up for a payment method. The latest notice says that any creditor who wishes to receive payment must complete the “selection and registration” section on the system platform before the deadline. Additionally, crypto exchange Bitstamp has revealed that it is one of the select exchanges chosen by court trustee Nobuaki Kobayashi.

Mt Gox creditors have been given a deadline to register with a select exchange

About 38 days ago, Mt Gox Trustee Nobuaki Kobayashi of the Tokyo-based bankruptcy court system told creditors that the rehabilitation trustee is “currently preparing to make payments”. Interestingly, the day before the trustee’s notification, 10,001 bitcoins associated with Mt Gox moved after being dormant since December 19, 2013.

Additionally, another 5,000 bitcoins associated with Mt Gox were moved five days later, after the bitcoins had been dormant for nearly nine years. Now Kobayashi has issued a deadline notice explaining that creditors must complete the “selection and registration” section of the platform by January 10, 2023.

The latest Mt Gox advisory reads:

The deadline for selection and registration is January 10, 2023 (Japan time); any creditor wishing to receive the refund must complete the selection and registration in the system before said deadline.

It has been known for quite some time that creditors will have to register with a selected crypto exchange and submit basic KYC/AML information. Mt Gox creditors must register with the selected exchange and at the time of writing, the names of all exchanges have not been disclosed. However, Bitstamp Announced on Friday that the Luxembourg-based trading platform was one of the selected crypto exchanges.

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

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

It appears that after the deadline begins on January 10 of next year, the Mt Gox claimants will finally receive the funds distributed after years of waiting and a turbulent rehabilitation process. There is no way to verify how many creditors will choose to get a full fiat payment, but some creditors have said 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, Macau SAR, Singapore, South Korea, Japan, North Korea, Syria, Cuba or three regions. of Ukraine that include Crimea, Donetsk and Luhansk.

Tags in this story

24000 Claimants, Base Payment Deadline, Bitcoin, Bitcoin (BTC), BTC, Claimants, Creditors, Exchange, Hacked Exchange, Japan, KYC, KYC Compliance, Mt Gox Trustee, Mt. Gox Rehabilitation Plan, Nobuaki Kobayashi , refunds, restriction reference period, liquidation plan, Tokyo, Tokyo District Court, Trustee

What do you think of the latest in the Mt Gox saga? Let us know what you think about this topic in the comments section below.

jamie redman

Jamie Redman is the news lead at News and a fintech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about the disruptive protocols emerging today.

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