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FTX Japan allows customers to withdraw funds starting February 21

FTX Japan, the Japanese cryptocurrency exchange, has had its auction of cryptocurrency trading board postponed from March 15, 2023, to April 19, 2023, after a court ruling in the United States. The court ruling caused a delay in the decision-making process for FTX Japan, prompting the rescheduling of the cryptocurrency trading board auction.

The cryptocurrency trading board auction in Japan will now take place on April 26, 2023, with the court hoping to complete the entire process by March 27, 2023. This is the day when the decision on the trading of cryptocurrency will be made, and it is expected to be completed by early May.

FTX Japan’s cryptocurrency trading board, which was suspended in January 2023 following a court order, has now begun the process of allowing customers to withdraw their funds. Customers can withdraw their fiat and cryptocurrency assets through the Liquid cryptocurrency trading board from February 21, 2023. However, customers without a Liquid Japan account are advised to open one before transferring their funds.

In a press release on February 20, 2023, FTX Japan stated that it was pleased to announce that it would resume providing services for the withdrawal of fiat and cryptocurrency assets through the Liquid Japan web platform on February 21, 2023. FTX Japan also notified eligible customers about the withdrawal process, emphasizing that withdrawals may take time due to the high volume of requests. They also guaranteed that other services would soon be back in operation.

This latest development follows FTX Japan’s suspension of fund withdrawals in November 2022, as ordered by the Financial Services Agency (FSA) of Japan. The FSA found irregularities in FTX Japan’s business operations, prompting the suspension. The company has been working to address the FSA’s concerns and is now taking steps to restore its services to customers.

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