Mt. Gox Revival Plan Granted Preliminary Nod of Approval
The proposed plan to revive bankrupt Japan-based bitcoin exchange Mt. Gox has received a key preliminary nod of approval. The news comes roughly one week after an initial hearing delayed any decision at the request of lawyers representing Tibanne KK and Mt. Gox CEO Mark Karpeles. Jay Edelson, a US lawyer representing the country's domestic exchange users, indicated that the plan was approved in a Northern District of Illinois court, and that this move clears the way for it to be more formally vetted in Japan. Edelson told CoinDesk: "The court granted our motion for preliminary approval of....
Related News
The digital currency and stablecoin issuer Paxos has been granted conditional approval for a bank charter under the Paxos National Trust in New York. The U.S. Office of the Comptroller of the Currency issued a preliminary conditional approval which means the regulating entity still has to authorize the firm’s future banking plans. Paxos Granted Preliminary Conditional Approval for a US Bank Charter The New York-based financial institution and technology company Paxos has been granted preliminary conditional approval for a bank charter by the Office of the Comptroller of the Currency....
Crypto exchange Binance has been granted preliminary approval to offer trading and custody services for digital assets in Kazakhstan. The exchange is yet to complete the full application process but the development has already been hailed as a landmark achievement for the company in the Central Asian nation which only recently took steps to regulate coin trading. Binance Receives Regulatory Approval From Kazakhstan Authorities Kazakhstan’s Astana Financial Services Authority (AFSA), the regulatory body that oversees the Astana International Financial Center (AIFC), has issued a....
Failed crypto lender Celsius Network has received bankruptcy court approval for its plan to transform into a creditor-owned Bitcoin mining firm, as reported by Bloomberg. The approval is part of a wider proposal aimed at repaying customers who have frozen their accounts for over a year. Celsius Network’s Path To Recovery US Bankruptcy Judge Martin […]
Seattle-based digital currency startup and the former manager of Mt. Gox's US and Canada operations CoinLab has announced that it is now supporting the Japan-based exchange's Chapter 15 bankruptcy filing. The news comes from court papers filed Friday, 6th June and obtained by The Wall Street Journal that state that CoinLab will not move to oppose the filing. CoinLab previously objected to the revival plan for Mt. Gox submitted by investor syndicate Sunlot Holdings. The move, while seemingly small, could open the door for the Sunlot Holdings plan, as well as those rumored to be submitted by....
Both Sunlot Holdings Ltd. and some Mt. Gox creditors have received a preliminary court approval this week of a settlement which would see the acquisition of the disgraced exchange for one bitcoin in a move that would allow customers to be compensated for lost funds. U. S. District Judge Gary Feinerman granted the initial approval at a federal court hearing in Chicago, Illinois on Wednesday, which would effectively settle a March class-action lawsuit against the company, Gonzague Gay-Bouchery (Mt. Gox's Marketing Chief), and Jed McCaleb (who founded Mt. Gox and sold it to Mark Karpeles in....