Mt. Gox, the defunct Japanese exchange, will begin distributing 140,000 Bitcoin ($4 billion) to creditors on Oct. 31, 2023. The repayments may cause a drop in the price of Bitcoin if creditors sell their crypto, potentially leading to a bear market. The Tokyo District Court has the power to push back the repayment deadline due to changing global regulations. Mt. Gox's bankruptcy trustee, Nobuaki Kobayashi, will oversee the distribution of Bitcoin to approximately 42,000 creditors. Japan established crypto regulations following the collapse of Mt. Gox, and exchanges must now register with the government and keep customer transaction reports.
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