Mt. Gox head Karpeles plans new Japan bitcoin tech business
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Mark Karpeles, arrested in Japan after his bitcoin exchange collapsed from massive hacking, is starting a new business around the same computer technology that led to his legal troubles.
Karpeles told reporters Wednesday he wants to make Japan a global leader in blockchain, the technology behind virtual money like bitcoin. The 34-year-old Frenchman was cleared of embezzlement and fraud allegations in March, but is appealing a conviction for manipulating electronic data.
Karpeles was arrested in 2015, and spent 11 months in detention. Karpeles received a suspended sentence, meaning he is not serving jail time. Prosecutors had demanded 10 years in prison.
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His lawyer Nobuyasu Ogata said the verdict highlights legal uncertainties in the new area of cryptocurrency crime.