Why Japan Might Quash Brock Pierce’s Plans to Re-Launch Notorious Bitcoin Exchange Mt. Gox

Ever since the security breach of Coincheck in January 2018, formerly the largest crypto exchange in Japan, local authorities have imposed a stricter process in granting licenses to trading platforms that support Bitcoin and other cryptocurrencies. Recently CCN reported that Brock Pierce, the co-founder of Blockchain Capital, disclosed his plans to revive Mt. Gox, an exchange which lost billions of dollars in user funds stored in Bitcoin in 2014. By distributing $1.2 billion currently held by Mt. Gox and reinstating the company’s operations, Pierce wants to reimburse every creditor of Mt. Gox through a process called Rising Civil Rehabilitation. But,

The post Why Japan Might Quash Brock Pierce’s Plans to Re-Launch Notorious Bitcoin Exchange Mt. Gox appeared first on CCN

Ever since the security breach of Coincheck in January 2018, formerly the largest crypto exchange in Japan, local authorities have imposed a stricter process in granting licenses to trading platforms that support Bitcoin and other cryptocurrencies. Recently CCN reported that Brock Pierce, the co-founder of Blockchain Capital, disclosed his plans to revive Mt. Gox, an exchange which lost billions of dollars in user funds stored in Bitcoin in 2014. By distributing $1.2 billion currently held by Mt. Gox and reinstating the company’s operations, Pierce wants to reimburse every creditor of Mt. Gox through a process called Rising Civil Rehabilitation. But,

The post Why Japan Might Quash Brock Pierce’s Plans to Re-Launch Notorious Bitcoin Exchange Mt. Gox appeared first on CCN