Blog Archives

Mt.Gox posts update to bankruptcy proceedings

Posted on 24th April, 2014

The Mt.Gox bankruptcy moved another step closer to resolution today, with the official appointment of attorney Nobuaki Kobayashi as trustee for the failed exchange. Mt.Gox changed its filing in a Tokyo court earlier this month, dropping plans for a proposed rehabilitation due to an “extremely large” number of creditors and a massive logistical challenge getting […]

Mt.Gox files for liquidation

Posted on 16th April, 2014

After nearly two months under bankruptcy protection, defunct bitcoin exchange Mt.Gox has officially ended all plans to rebuild. Earlier today, Mt.Gox’s attorney’s asked a Tokyo court to allow the company to begin the liquidation process. The move comes as a blow to the exchanges former customers, many of whom hoped a buyer for the company […]

Japanese banking giant Mizuho added to Mt.Gox lawsuits

Posted on 17th March, 2014

Two lawsuits against bankrupt bitcoin exchange Mt.Gox added Japanese “megabank” Mizuho as to their filings on Friday. According to both suits, one in the U.S. and the other in Canada, the lack of due diligence by the bank was an inherent part of the alleged three-year fraud at Mt.Gox. As Mt.Gox’s bank, Mizuho held most […]

Report: Japan weighs Bitcoin tax following Mt.Gox implosion

Posted on 4th March, 2014

It’s hardly surprising that Japanese officials are reexamining their policies towards Bitcoin. Following the half-billion dollar debacle of Tokyo-based exchange Mt.Gox’s downfall, Japan’s official stance on virtual currencies has been placed firmly in the spotlight. According to an AFP wire report, Japan’s finance ministry and the national tax agency are considering new rules, and possibly […]

Japan proposes international Bitcoin regulation

Posted on 27th February, 2014

Responding to questions about the closure of Tokyo-based Mt.Gox, Japan’s Senior Vice Finance Minister Jiro Aichi told reporters that international collaboration would be necessary to regulate the currency. Aichi added that Bitcoin does not fall under his agency’s jurisdiction, as it does not involve coins or notes issued by the Bank of Japan. Under that […]

Mt.Gox subpoenaed by US Attorney’s office, may be under investigation in Japan

Posted on 26th February, 2014

The worsening situation at Mt.Gox has caught the attention of the US Attorney’s office in New York. According to a story published in the Wall Street Journal yesterday, the federal prosecutors sent a subpoena to Mt.Gox asking the exchange to “preserve certain documents among other things.” While the US Attorney’s office has declined to comment […]

Tokyo police shut down Mt.Gox protest

Posted on 22nd February, 2014

Yesterday, police broke up the small, loosely organized protest outside Mt.Gox’s offices in Tokyo’s Shibuya district. Police told the protestors that the demonstration was illegal, and warned them not to return without a “demonstration license.” According to protest organizers, the police were called by other tenants of the building who had grown tired of the […]