Adedeji Owonibi, mentioned that lack of regulation in Nigeria’s crypto space permits various practices to go unmonitored.
Despite the fact that the crash of Mt. Gox initially happened in 2014, the door to the issue is still not closed yet.
The company has issued a public statement noting that deadline for creditors has now closed. The former crypto exchange has been working on repayments since 2020, with a system put in place for creditors to claim back funds lost in the crash. The latest statement was released in conjunction with its rehabilitation trustee Nobuaki Kobayashi. In the notice, it states that the base repayment, intermediate repayment and early lump-sum repayments will be carried out until the end of October 2023. This could be extended if the Tokyo District Court grants Mt. Gox permission.
Mt Gox’s note also stated that Nobuaki Kobayashi would carry out any and all preparations needed to make the repayments. This includes confirmation of elections for repayments and sharing relevant information with banks, financial service providers, crypto exchanges or any other relevant party. As a result of this information gathering and sharing, the repayment process might take some time.