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

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.

Earlier this month, FTX Japan announced plans to refund customer funds as early as January 2023, but could not give a specific time for resuming withdrawal services. The FSA said it would continue to suspend the exchange from accepting new orders.

Recently, FTX attempted to sell most of its business. Last month, global institutional digital currency platform HAYVN said it was considering acquiring FTX’s payments business. In addition, the sale of LedgerX, a digital currency futures clearing house under FTX, has also attracted interest from cryptocurrency companies such as Blockchain.com, Gemini, Bitpanda, and Kalsh.

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