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US, Japan law enforcement examining situation surrounding Mt. Gox

updated 08:19 am EST, Wed February 26, 2014

Crisis strategy draft 'more or less' legitimate, confirmed by Mt. Gox CEO

While the Mt. Gox "crisis strategy draft" seems to actually be legitimate, further doubt on the future survivability of shuttered BitCoin exchange has been cast by both US and Japanese regulatory agencies and law enforcement. Departments from both countries have either already issued subpoenas, or are starting to look into the facts leading up to and surrounding the recent shutdown, which could cost users and the company itself over $350 million.

At a press conference for other matters, Japan's Chief Cabinet Secretary Yoshihide Suga said of the Mt. Gox closure and potential investigation that at this stage, "the relevant financial authorities, the police, the Finance Ministry and others are gathering information on the case."

At the same time, the Wall Street Journal, quoting sources familiar with the matter, claims that the exchange has received a supboena from federal prosecutors in New York. The subpoena demands that Mt. Gox personnel retain certain documents related to business, and the potential loss of over 744,000 BitCoins.

Mt. Gox CEO Mark Karpeles informed Reuters that the company "should have an official announcement ready soon-ish. We are currently at a turning point for the business. I can't tell much more for now as this also involves other parties."



By Electronista Staff
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