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March 10, 2014 AT 6:58 AM
Mt. Gox, the struggling Japanese bitcoin exchange, has filed for bankruptcy protection in a U.S. court to stop customers from freezing any of the company's assets that are located on U.S. soil. Lawyers put MtGox into Chapter 15 protection in Texas on Sunday, stating that a potential class-action lawsuit in Illinois could get in the way of reorganization efforts that are taking place in the company's home country.