Security News > 2023 > January > Amid FTX's burning wreckage, Japan outpost promises asset withdrawals in February
A Monday post from FTX Japan states the outfit plans to allow withdrawals from an unspecified moment in February, through the Liquid web site.
In 2022 Japan again passed crypto-related laws as it sought to deal with stablecoins and the rise of NFTs. The result of all that lawmaking is that crypto exchanges in Japan are required to register with the Financial Services Agency, demonstrate they can comply with anti-money-laundering laws and similar regulations, set aside capital reserves, and separate customer and exchange assets.
Since FTX acquired Liquid after most of those rules were in place, FTX Japan should have been in a decent position to ride out the woes of its parent company.
As The Register reported in December 2022, FTX Japan posted weekly updates advising investors of the assets it held and promising work on allowing withdrawals had commenced.
To access it, customers will need to "Link your FTX Japan account and your Liquid Japan account on the Liquid Japan web version and transfer the balance."
Just not operating well enough that FTX Japan can set a date on which customers will be able to log in.