Failed crypto exchange FTX’s Japanese subsidiary, FTX Japan, received approval from regulators to postpone the deadline for its business suspension by three months.
FTX Japan addressed the extension in a blog post. The exchange noted that it is following a plan to improve its business in line with what it submitted to the Kanto Local Finance Bureau in mid-November.
The reason for the deadline extension revolves around FTX Japan’s failure to return assets from custody to creditors. The exchange claimed its “primary focus has been on re-enabling withdrawals for both crypto and fiat assets that are under custody” on Dec. 1.
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