Cryptocurrencies
Japan Expects Local FTX Clients to Get Funds Back From February
- Financial regulator says it’s in close contact with FTX Japan
- Client assets ‘properly segregated,’ senior FSA official says
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Japan’s financial watchdog expects the local unit of Sam Bankman-Fried’s failed crypto empire FTX will repay funds to customers starting next month, according to a senior official.
“We have been in close communication with FTX Japan,” said Mamoru Yanase, deputy director-general of the Financial Services Agency’s Strategy Development and Management Bureau. A mid-February timeline for withdrawals announced last month by the firm is likely a product of such communication so “we are expecting that they will properly take steps based on that,” he said.