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1.72%FTX Japan Customers Can Begin Withdrawing Fiat, Crypto on Feb. 21
The announcement meets a promise made in December by the ring-fenced exchange.
Updated Feb 21, 2023, 4:05 p.m. Published Feb 20, 2023, 2:04 p.m.
FTX Japan will restart withdrawal services for fiat and crypto assets as of noon local time on Feb. 21, the company said Monday.
The announcement meets a promise made in December by the exchange, whose assets in the country were largely ring-fenced under Japanese law.
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“Due to the large number of requests from customers, it may take some time for the withdrawal process to be completed,” the company said in a statement. “We will announce the resumption of other FTX Japan services as soon as possible.”
The Japanese exchange shuttered Nov. 8, a few days before FTX as a whole filed for bankruptcy protection in the U.S. The Japanese unit, alongside FTX Europe, has been earmarked for an early sale as the estate attempts to recoup funds.
Read more: FTX Japan to Allow Customers to Withdraw Funds Starting in February
Jack Schickler
Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He previously wrote about financial regulation for news site MLex, before which he was a speechwriter and policy analyst at the European Commission and the U.K. Treasury. He doesn’t own any crypto.
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