• FTX Japan announced that they would resume customer withdrawals as of February 21, 2023.
• The withdrawals will be processed through the Japanese crypto exchange Liquid.
• Other services are expected to resume soon.
FTX Japan to Resume Withdrawals
FTX Japan, the Japanese arm of bankrupt crypto exchange FTX, announced that it would resume the withdrawal function for customers starting February 21, 2023. According to a press release on Monday (Feb. 20, 2023), customers will be able to withdraw their assets from this date onwards with both fiat and crypto asset withdrawals being processed through the Japanese crypto exchange Liquid.
Instructions for Withdrawals
The platform stated that users who do not have a Liquid Japan account should open one before moving their funds. Furthermore, FTX Japan has already notified eligible customers about the procedures for withdrawals and emphasized that due to the large volume of requests processing may take some time.
Previous Suspension
The latest development comes after the Japanese subsidiary halted withdrawals in Nov. 2022 on the directive of Japan’s Financial Services Agency (FSA). Since then FTX Japan has been in the process of trying to resume service for its customers in order to comply with FSA regulations.
Other Services Expected Soon
Although only withdrawal services have resumed so far, other services are expected to follow suit soon as well according to an announcement from FTX Japan. This announcement is sure to bring relief to many customers who have been unable access their funds since November 2022 when services were suspended initially by the FSA.
Conclusion
In conclusion, FTX Japan is resuming withdrawal services starting February 21st and other services are expected soon as well following compliance with regulations set by FSA. Customers should ensure they have opened a Liquid Japen account before withdrawing their funds as this is necessary for successful completion of transactions.