Mt Gox Saga Nears End Of Road – Creditors Need To Register With Exchanges, Bitstamp Chosen By Trustee – Bitcoin News

Mt Gox creditors have been issued new information regarding their claims and it appears that they now have until January 10, 2023 (Japan time) to register for a repayment method. The latest notification states that all creditors who wish to receive payment must complete the “selection and registration” section of the system platform by the deadline. Furthermore, the crypto exchange Bitstamp has revealed that it is one of the selected exchanges chosen by the court trustee Nobuaki Kobayashi.

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

About 38 days ago, Mt Gox trustee Nobuaki Kobayashi, of the Tokyo-based bankruptcy court system, told creditors that the rehabilitation trustee was “currently preparing to repay.” Interestingly, the day before the trustee’s notice, 10,001 bitcoins associated with Mt Gox moved after sitting idle since December 19, 2013.

Furthermore, another 5,000 bitcoin associated with Mt Gox moved five days later, after the bitcoins sat dormant for close to nine years. Now, Kobayashi has issued a deadline notice explaining that creditors must complete the claims.mtgox.com platform’s “selection and registration” by January 10, 2023.

The latest Mt Gox message says:

The deadline for election and registration is January 10, 2023 (Japan time); any creditor wishing to receive repayment must complete selection and registration in the system within such deadline.

It has been known for quite some time now that creditors must register with a chosen crypto exchange and submit basic KYC/AML information. Mt Gox creditors must register with their chosen exchange, and at the time of writing, the names of all exchanges have not been released. 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 rehabilitation process for Mt. Gox creditors,” the exchange said in a blog post on the subject. “Rehabilitation creditors who choose Bitstamp as their cryptocurrency exchange will receive the rehabilitation funds via their Bitstamp account.”

According to a Mt Gox creditor, users must log into the claims.mtgox.com system and perform the identity verification process, then complete the “selection and registration” section. Then Mt Gox creditors have a choice to choose either fiat or a crypto and fiat combination.

It appears that after the deadline starts next year on January 10, Mt Gox claimants will finally be awarded funds after years of waiting and a turbulent rehabilitation process. There is no way to confirm how many creditors will choose to receive a full fiat payment, but it has 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 residing in China, Iran, Macao SAR, Singapore, South Korea, Japan, North Korea, Syria, Cuba or three Ukraine regions which include Crimea, Donetsk and Luhansk.

What do you think of the latest from 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 editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.