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

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

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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,

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* First published on ccn.com

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