TechFlow news — According to an official announcement released on Thursday, Japan's Financial Services Agency (FSA) has ordered FTX Japan to suspend operations. The regulator requires FTX Japan to immediately halt its cryptocurrency trading services and stop accepting new clients by December 9, 2022.
The FSA cited in its order the fact that FTX Japan halted withdrawals for customers in the country without specifying a recovery date, while still allowing new users to join the platform. Under these circumstances, the regulator stated it was uncertain about FTX Japan's financial health. FTX Japan is also required to submit a "written business improvement plan" addressing the aforementioned issues by November 16, 2022.Source link
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