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    Home » Crypto News » FTX Japan Has Until March 2023 to Cease All Operations (Report)

    FTX Japan Has Until March 2023 to Cease All Operations (Report)

    Author: Dimitar Dzhondzhorov

    Last Updated Dec 11, 2022 @ 08:56

    The Kanto Local Finance Bureau will supposedly halt FTX Japan’s activities on March 9, 2023.

    The Japanese authorities reportedly extended the business suspension order to FTX Japan until March 9, 2023.

    Initially, the company had to cease all services on December 9.

    • According to recent coverage, the Kanto Local Finance Bureau will grant FTX Japan three more months before halting all its activities.
    • The final date has moved from December 9, 2022, to March 9, 2023, because the company still struggles to return assets to customers.
    • The authorities further claimed that FTX Japan’s trading system continues to be out of order.
    • The Japanese subsidiary of the bankrupt exchange vowed to resume customer withdrawals by the end of 2022 by developing new infrastructure.
    • It reiterated its intentions at the beginning of December, assuring that cash and cryptocurrencies stored on the platform are not part of the company’s estate.

    “Based on this, we will promote the above return plan and plan to resume withdrawal and retrieval services as part of normal operations as soon as preparations are complete,” FTX Japan stated at the time.

    • Logically, the collapse of FTX has caused tremendous issues for the Japanese affiliate. The latter reportedly has over $170 million in cash on its books, making it the third-biggest source of money for the former crypto giant.
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    You Might Also Like:

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      Japanese Customers' Cash and Crypto not Part of FTX Japan's Estate, Will Resume Withdrawals
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      Another Exchange Halts Withdrawals in the FTX Aftermath
    Tags: FTX Exchange Japan
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    About The Author

    Dimitar Dzhondzhorov
    More posts by this author

    Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

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