FTX Japan ordered to suspend operations by the country’s regulators  PlatoBlockchain Data Intelligence. Vertical Search. Ai.

FTX Japan ordered to suspend operations by the country’s regulators 

Time Stamp: November 10, 2022 11:46 AM
image

FTX Japan, the Japanese arm of the beleaguered crypto exchange FTX.com, was ordered by the country’s Financial Services Agency (FSA) to suspend operations until Dec. 9 and put together a “business improvement plan.”

See related article: Will Contagion Spread?

Fast facts

  • FSA claimed that FTX Japan suspended customer withdrawals for an unspecified period without halting new customer registrations, the agency said on Thursday. 
  • The local finance regulator ordered FTX Japan to come up with a “business improvement plan” by Nov. 16, which should accurately identify its customers, protect user assets, and provide more transparency.
  • FTX Japan’s parent company, FTX.com, has been in a dramatic liquidity crisis that would reportedly require US$8 billion to resolve. 

See related article: Binance and FTX – Should you be worried?

Time Stamp:

More from Forkast