I am an asian, therefore my comment shouldn't be taken as racial. The moment I realized, Mt.Gox was an asian enterprise, (based in asia) I became wary of them, and put them on my least priority. I want people to transact their wealth/money only with those companies, which are located in countries, which have good repute for accountability and have strong judicial system. I don't mean, Japan is not one of those. But I don't know, I still can't put faith with any Asian company as yet, when it involves 'money'.
I'm not Asian but I live in Hong Kong and I never had this impression.
Most countries look at Bitcoin with some interest and suspicion.
I don't think that being Asian gives you super powers just like being Westerner gives me any more insight about the financial stability of Western countries.
If you know something specific about laws or business practices in Japan that may shed a light on the whole issue then feel free to enlighten us.
I would say though that your trust in Western institutions is a bit misplaced. Enron lost billions and ruined lives. You could say that some of the culprits are in prison but that's poor consolation for those who lost everything.
More recently, the whole of the banking industry almost collapsed under the weight of its own greed and malpractices, bringing down with it whole countries and forcing tax payers to foot the bill to prop up these honorable institutions.
The moment I realized that mtgox stood for fucking magic the gathering online exchange is when I became weary/started laughing at people who put their imaginary fun bux in there, Asian enterprise notwithstanding.
Even though the founder isn't Asian at all, but a French techie who moved the Japan to become an entrepreneur? And the top management appear to all be non-Asian?
I'm not saying your concerns don't have some basis, but MtGox was not a relevant example. Unless you mean that Westerners moving to Asia to set up businesses automatically can't be trusted either.
I am an asian, therefore my comment shouldn't be taken as racial. The moment I realized, Mt.Gox was an asian enterprise, (based in asia) I became wary of them, and put them on my least priority. I want people to transact their wealth/money only with those companies, which are located in countries, which have good repute for accountability and have strong judicial system. I don't mean, Japan is not one of those. But I don't know, I still can't put faith with any Asian company as yet, when it involves 'money'.