Biz Suspension for FTX's Japan Unit Extended by 3 Months

Economy

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Tokyo, Dec. 9 (Jiji Press)--The Ministry of Finance's Kanto Local Finance Bureau in eastern Japan said Friday that it will extend its business suspension order for cryptocurrency exchange FTX Japan K.K. by three months until March 9.

The finance bureau will also extend an order for the Japan unit of failed FTX Trading Ltd. to keep customer assets in Japan.

The parent firm has filed for Chapter 11 bankruptcy protection in the United States.

The extensions come as FTX Japan is still unable to return customer assets, with its trading systems halted.

On Nov. 10, the finance bureau issued the business suspension order to the company, saying that it stopped withdrawal operations without giving customers adequate explanations.

[Copyright The Jiji Press, Ltd.]

Jiji Press