Reuters:
m/id/101446338]"Japan authorities looking into closure of Mt. Gox bitcoin exchange""At this stage the relevant financial authorities, the police, the Finance Ministry and others are gathering information on the case," Yoshihide Suga told a regular news conference when asked about Tuesday's shutdown of the Tokyo-based exchange.That's a very high level for this to be handled at. Chief Cabinet Secretary Suga is second in command to the Prime Minister of Japan.
For Suga to make that statement is a huge deal. That will be interpreted at all the relevant ministries as "get to the bottom of this and fast".
You may trust that the Japanese government not only has a plan, but also a vision of how best to handle this Mt. Gox mess. The country knows exactly how to turn a liability into an asset--in this case a public relations black hole into a bonanza of positive press and attention in the international investment community.
Expect a uniquely Japanese approach that will pay huge dividends by encouraging the public to have confidence in the country as even more safe and secure than they now do.
The name of this game is
investor attractiveness, and Prime Minister Abe's government knows full well how to make Japan into an investment destination of choice. A consensus among business and government leaders is forming to take affirmative action, and only the timing remains to be decided.
