MtGox Rehabilitation Trustee Announces Commencement of Bitcoin and Bitcoin Cash Repayments
The rehabilitation trustee for the defunct cryptocurrency exchange MtGox, Nobuaki Kobayashi, has announced that repayments in Bitcoin and Bitcoin Cash to creditors will begin in July 2024. This marks a significant milestone in the long-running rehabilitation process for the exchange, which collapsed in 2014.
According to the notice, the trustee has completed necessary preparations to initiate the repayment process. The repayments will be made to cryptocurrency exchanges that have successfully completed the required information exchange and confirmation procedures with the trustee.
The announcement emphasizes that the delay in commencing repayments was due to several factors, including:
Implementation of technical measures to ensure safe repayments
Compliance with financial regulations across various countries
Negotiations with cryptocurrency exchanges regarding repayment arrangements
The trustee stated that repayments will be initiated in order of readiness, starting with the exchanges that have fully completed the information exchange and confirmation process. Creditors are advised to await further updates as the process unfolds.
