Japan's Regulator Extends Suspension of FTX Japan to March 2023

The Japanese Financial Service Agency (FSA) announced on Friday that the Kanto Local Finance Bureau has extended the suspension of FTX Japan, the local subsidiary of the bankrupt crypto exchange FTX​, from December 9 2022 to March 9, 2023.

Meanwhile, FSA's business improvement order​ in November required FTX Japan to submit a plan by November 16. In the new administrative action, the regulator noted that the order remains in place. 

Earlier this month, the Japan subsidiary announced its plan to return customers' funds as early as in January 2023 but could not give a specific date when the withdrawals would be restarted. The regulator stated that it will continue to suspend the exchange's new business orders.

Recently, FTX attempted to sell many of its business. Last month, the global institutional digital currency platform HAYVN​ announced that it is considering to acquire the exchange's payment business. Besides, FTX's digital currency futures and clearinghouse LedgerX​ also has attracted interest from crypto firms including Blockchain.com, Gemini, Bitpanda and Kalsh.