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FTX Japan Is Extended Its Business Suspension Until March 9

Regulators granted FTX Japan permission to extend the date for its business suspension by three months.

According to Reuters, the Ministry of Finance of Japan’s Kanto Local Finance Bureau has extended the deadline to March 9, 2023.

According to the Kanto Local Finance Bureau, the company’s trading system continues to be out of function, and it is not ready to properly conduct operations related to the crypto asset exchange company. It is said that it is not in a situation where it can be done.

In a blog post, FTX Japan addressed the extension. The exchange stated that it is pursuing a business improvement plan that it filed to the Kanto Local Finance Bureau in mid-November.

The administrative disposition was originally supposed to finish on December 9, but it was prolonged for three months since the crypto assets in custody could not be returned. FTX Japan stated that its main priority has been to re-enable withdrawals for both crypto and fiat funds that were in custody.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.