Japanese court allowed to continue the procedure for returning bitcoins to users of Mt. Gox

The court in Tokyo found no grounds for rejecting the project version of the civil rehabilitation plan of the discontinued Mt. Gox cryptocurrency exchange. This was announced today by the manager of Mt. Gox assets, Nobuaki Kobayashi.

The next stage should be a vote among creditors, which will be opened on March 24 and will last until October 8. On October 20, a meeting of users will be held. You can take part in the voting using an online form, a written request, or in person when attending the meeting. The creditors are expected to support the plan, after which Kobayashi will be able to start distributing the remaining assets among them.

About 165,000 BTC worth $8 billion at the current exchange rate and 165,000 BCH worth $500 million are subject to distribution. The details of the process will depend on the individual preferences of each lender. It is assumed that first everyone will receive $2,000 in fiat currency, after which bitcoins will be transferred. Trustnodes expects the distribution to be completed by the end of this year.

Mt. Gox was founded in 2010 and was once the largest cryptocurrency exchange in the world. After a series of hacker attacks, the company declared bankruptcy in 2014. The resolution of related legal issues has resulted in a lengthy process, due to which creditors are still unable to receive the payments due to them.