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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.
(Andrew Holt/Getty Images)
(Andrew Holt/Getty Images)

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

Higit pang Para sa Iyo

Crypto's banker adversaries didn't want to deal in latest White House meeting on bill

The White House, the executive office of the U.S. President (Jesse Hamilton/CoinDesk)

Stablecoin rewards programs were the primary business of a work session at the White House between crypto executives and banking representatives.

Ano ang dapat malaman:

  • Representatives of the top U.S. banks met at the White House across a table from negotiators from the crypto industry to find common ground on the Senate's crypto market structure legislation.
  • This latest meeting on the Clarity Act didn't produce the hoped-for compromise, with sources saying the bankers didn't arrive with an intent to find common ground.