Japan: bitcoin 'collapse' expected | Bangkok Post: business

Business > Finance

Japan: bitcoin 'collapse' expected

- +

TOKYO — Japan's finance minister scoffed at bitcoin woes, dismissing them as inevitable on Friday, and Vietnam banned the virtual currency, but enthusiasm was undimmed among its supporters in the aftermath of the apparent collapse of a major exchange. 

The unplugging earlier this week of the Tokyo-based Mt. Gox bitcoin exchange and accusations it suffered a catastrophic theft have drawn renewed regulatory attention to a currency created in 2009 as a way to make transactions across borders without third parties such as banks.

Mt. Gox bitcoin exchange filed for bankruptcy protection in Japan on Friday after claims of a multi-million-dollar theft from its digital vaults, media reports said.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments