Creditors will also have until March 10th to provide their crypto exchange and banking information, rather than the previous deadline of January 10th.
All creditors will receive a base payment and the option of receiving an early lump sum payment or a potentially different amount at a later date. Repayments will be made in cryptocurrency, fiat currency, or a combination of both and will be sent to the recipient's bank account or crypto exchange.
There has been speculation that the timeline shift may be related to Kraken's decision to leave the Japanese market. One of the exchanges that creditors could select was Kraken to receive their crypto payments, but the exchange announced its plans to exit Japan in January. Some creditors have reported challenges in verifying their exchange details in time for the previous deadline, potentially due to Kraken's upcoming departure. This extension will give them more time to do so.
While Kraken's exit from Japan may not impact most creditors or repayments, it could cause issues for Japanese users who want to exchange their crypto for fiat currency and withdraw to their local bank account.
Kraken's Exit from Japan Could Affect Mt. Gox Creditors
There has been speculation among Mt. Gox creditors that the recent timeline shift for repayments could be related to Kraken's decision to leave the Japanese market. Creditors had the option of selecting Kraken to receive their crypto payments, but the exchange announced its plans to exit Japan in January.
Some creditors have reported challenges in verifying their exchange details in time for the previous deadline, potentially due to Kraken's upcoming departure. The new deadline of March 10th will give them more time to do so.
While Kraken's exit from Japan may not impact most creditors or repayments, it could cause issues for Japanese users who want to exchange their crypto for fiat currency and withdraw to their local bank account.
