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Japan’s FTX Unit K.K. Decides To Return Back Its Client’s Money

The FTX unit in Japan, a subsidiary of the failed cryptocurrency exchange of Sam Bankman-Fried, announced its decision to resume withdrawals this week to make the 1st of the FTX group to return funds to customers. 

FTX Japan will be developing a special system to allow its customers to withdraw both crypto and fiat funds from the crypto exchange in Tokyo. 

He expressed happiness to see the Japanese crypto exchange move forward and expects it to continue to maintain the same for the US unit, according to Mark Botnick, the company’s spokesperson. Resuming withdrawals can mark a massive victory for the financial regulator in Japan, which has quickly moved to introduce strict rules in order to protect customers, including asset segregation. 

(By David Cox)

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