The influence of the fall of the Mt. Gox bitcoin exchange are still felt on the market today, regardless of over 3 years having passed since its collapse.

For those who do not know, Mt. Gox was once the biggest bitcoin exchange on the market, handling over 70% of all transactions back in 2014. However, in February that year, the exchange decided to suspend trading, while also closing both its exchange service and the actual website, shortly after filing for bankruptcy, after over 850,000 bitcoin, valued at over $450 million were stolen.

There have been numerous reports on banks, stock trading corps and various other financial institutions showing interest in bitcoin’s underlying technology, the blockchain. Yet, not many have showcased their interest in using digital currencies for other purposes- until now.

Recently, the Bank of Tokyo-Mitsubishi UFJ has announced that it has begun conducting experiments using their very own digital currency. With this in mind, the bank plans to release its digital currency sometime in the autumn of 2017.

The crash of the Japanese Bitcoin exchange, Mt Gox, was probably one of the worst events to happen in bitcoin history to date. In fact, right afterwards, the digital currency proved its incredibly volatile nature by dropping in value significantly.

Well, the people affected by the hack may have something to look forward to in the next couple of days, considering the fact that some of the investors will be receiving a part of their bitcoin investment back. With this in mind, an announcement made by the Kraken Bitcoin Exchange showcases that the verification process being carried out for over 25,750 claims has been completed.

The year of 2015 has been representative for Bitcoin, due to the fact that the currency’s price more than doubled, and is bound to surge even higher in 2016.

Perhaps the main reason behind this is the fact that investors and simple bitcoin users have managed to regain confidence in the system, following the collapse of the Mt. Gox exchange back in 2014. At this moment in time, bitcoin is trading at the sum of $447, which is over $200 when compared to the beginning of the last year.

In the last couple of days, there has been some pressure put upon the Asian region, in terms of Bitcoin acceptance and regulation.

In fact, the latest reports indicate that the Japanese Government is currently gearing up to regulate bitcoin activity throughout the country, following the investigations being carried out around the Mt Gox bitcoin exchange.

Mark Karpeles, the CEO of Mt. Gox, the bankrupt Bitcoin exchange which totalled the cryptocurrency’s reputation back in 2014 was just arrested by Japanese law enforcement in Tokyo, Japan. The arrest comes after hundreds of man-hours spent in order to investigate whether he is guilty for all the accusations that have been brought upon him.

If you’re not yet aware, Mt. Gox was the world’s biggest exchange, handing more than 70% of the world’s Bitcoin transactions. It operated for a couple of years until 2013-2014, when Karpeles came under investigation for fraud-related activities. Soon after, the exchange filed for bankruptcy, and investors quickly began taking their money back, but as the liquidation process begun, the exchange announced that over 850,000 Bitcoins had been either stolen or lost. At that moment, this was worth over $800 million.