MtGox logo on a computer screen with a stack of Bitcoins

Mt Gox creditors have until January 2023 to select repayment method

Mt Gox creditors have until January 10, 2023, to select their preferred repayment method, trustee Nobuaki Kobayashi has announced in his most recent update.

Kobayashi had given the creditors until September 15, 2022, to conclude making or transferring their claims. At the time, he pledged to stick to the rehabilitation plan that the Tokyo District Court had approved in November last year.

Kobayashi has recently announced that creditors can select a repayment method and register payee information on the Mt Gox Online Rehabilitation Claim Filing System. The trustee stated that only those who’ll have completed selection and registration by January 10, 2023 (Japan time) would be eligible for repayment.

The creditors have four ways in which they can receive their repayment, Kobayashi revealed. These are as an early lump-sum repayment, bank remittance, through a fund transfer service provider, or receiving part of their claims in digital assets.

Those who select repayment in digital assets will be eligible to receive their funds in BTC and BCH only. The trustee has yet to clarify how he plans to handle any other tokens held, including Bitcoin SV and Bitcoin Gold. He has only once stated in the past that he plans to sell BSV and BTG and boost the fiat kitty.

Once the deadline closes, Kobayashi and other third-party payment platforms selected by the creditors will confirm all the details, including their names and repayment methods. 

Following the announcement, Luxembourg-based Bitstamp exchange announced that it’s one of the repayment platforms selected to be used by creditors.

“Rehabilitation creditors who choose Bitstamp as their cryptocurrency exchange will receive the rehabilitation assets via their Bitstamp account,” the exchange stated while revealing that due to regulatory restrictions, the program would be inaccessible to those affected by sanctions, such as China, North Korea, Iran, Cuba, and Syria. Singapore, Japan, and South Korea will also be blocked from the program.

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