New Deadline For Repayments Registration Revealed For Mt. Gox Creditors

  • Payments will now begin on March 10th, two months later than originally planned.
  • Mark Karpeles announced the deadline extension in a Telegram chat message.

The first payback instalment from Mt. Gox has been postponed by two months, from July 31 to September 30 per a notice from the creditors. Payments will now begin on March 10th, two months later than originally planned.

In addition, the January 10th deadline for submitting financial information and cryptocurrency exchange information has been extended until March 10th. Former CEO Mark Karpeles announced the deadline extension in a Telegram chat message, saying that it was necessary since many individuals had not yet submitted their data.

Payment to each creditor will begin with a set amount. They may also choose to take a lump sum payment now rather than wait for a future payment, which might be for a different amount. Any combination of fiat currency and cryptocurrency is acceptable. To the recipient’s bank account or cryptocurrency exchange.

Extended Deadline a Relief For Few

Kraken’s exit from the Japanese market might create difficulties for its Japanese clients who want to convert their crypto to fiat money and withdraw to a local bank account, although this may not be the case for the vast majority of borrowers or repayments.

Creditors of Mt. Gox speculate that Kraken’s decision to exit the Japanese market as a cryptocurrency exchange may be related to the time shift. It was one of the markets where creditors may trade their cryptocurrencies for fiat cash.

However, the exchange stated that it will be leaving the Japanese market in January due to worldwide layoffs. Some creditors have expressed relief that the extended deadline would allow them to confirm their cryptocurrency exchange information in time.

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