FTX customers in Japan will soon be able to withdraw their funds that are currently frozen due to the bankruptcy process. crypto cryptocurrency
Two FTX-owned crypto exchanges, FTX Japan and Liquid, are developing a system to allow withdrawals by mid-February.Two FTX-owned cryptocurrency exchanges in Japan — FTX Japan and Liquid — jointly announced Thursday that their users will be able to withdraw funds by mid-February. The two crypto exchanges announced:
For the assets entrusted to us by our customers at FTX Japan and Liquid Japan, we are proceeding with system development so that withdrawals will be possible from the Liquid Japan website. To withdraw funds, FTX Japan’s customers will need to open an account with Liquid and transfer their assets to the Liquid platform. The exchanges plan to allow withdrawals by mid-February, according to the joint announcement.by FTX earlier this year. The deal included Quoine Corp., one of the first crypto exchanges to successfully register in 2017 with Japan’s top financial regulator, the Financial Services Agency .
FTX filed for bankruptcy on Nov. 11. However, FTX Japan said on Dec. 1 that it had confirmed with lawyers for the FTX group that “Japanese customer cash and cryptocurrency should not be part of FTX Japan’s estate given how these assets are held and property interests under Japanese law.”
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