Mt. Gox head Karpeles plans new Japan bitcoin tech business

Former Mt. Gox CEO Mark Karpeles attends a news conference at the Foreign Correspondents' Club of Japan Wednesday, June 5, 2019, in Tokyo. 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. (AP Photo/Jae C. Hong)
Former Mt. Gox CEO Mark Karpeles attends a news conference at the Foreign Correspondents' Club of Japan Wednesday, June 5, 2019, in Tokyo. 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. (AP Photo/Jae C. Hong)
Former Mt. Gox CEO Mark Karpeles attends a news conference at the Foreign Correspondents' Club of Japan Wednesday, June 5, 2019, in Tokyo. 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. (AP Photo/Jae C. Hong)

TOKYO — 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.

His lawyer Nobuyasu Ogata said the verdict highlights legal uncertainties in the new area of cryptocurrency crime.

You may also interested in

Global markets mixed after Wall Street loss

Dec 23, 2016

Asian markets are mostly lower while Europe has gained in early trading ahead of the Christmas...

Asian shares mixed as investors consider latest...

Jan 5, 2017

Asian stock indexes mixed as investors assess latest Fed meeting minutes; Japan shares slip as yen...

China exports shrink as Trump trade tensions loom

Jan 13, 2017

China's exports fell back into contraction again last month, signaling renewed weakness for the...

Chinese factory makes giant inflatable...

Jan 13, 2017

A Chinese factory has been doing a brisk business selling giant inflatable roosters, some as tall...

A look at how Trump might shake things up in Asia

Jan 16, 2017

Donald Trump has offered views on U.S. relations with Asia that could indicate radical shifts in...

Subscribe To Our Newsletter