FTX Japan to Resume Withdrawals on Feb 21 After Halting Service in November

The Japanese arm of bankrupt crypto exchange FTX announced that it would resume the withdrawal function for customers.

This comes less than a month to when the order for the platform to suspend its business takes effect.

• According to a press release on Monday (Feb. 20, 2023), FTX Japan stated that customers will be able to withdraw their assets from Feb. 21, 2023. The platform said fiat and crypto asset withdrawals will be processed through the Japanese crypto exchange Liquid, adding that users who do not have a Liquid Japan account should open one before moving their funds.

“We are pleased to announce that we will resume our services for withdrawal of fiat currency and crypto assets of FTX Japan via the Liquid Japan web platform at 12:00 p.m. (noon, JST) on February 21, 2023.

• FTX Japan further said it already notified eligible customers about the procedures for withdrawals. However, the press release stressed that the withdrawals could take time due to the large volume of requests while assuring that other services will soon resume.
• The latest development comes after the Japanese subsidiary halted withdrawals in Nov. 2022, on the directive of Japan’s Financial Services Agency (FSA). Since the suspension, FTX Japan has been in the process of trying to resume the service for its users.
• In addition, the Kanto Local Finance Bureau extended FTX Japan’s business order suspension until March 9, 2023.