{"id":69907,"date":"2022-11-11T11:14:30","date_gmt":"2022-11-11T09:14:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69907"},"modified":"2025-09-07T22:48:52","modified_gmt":"2025-09-07T19:48:52","slug":"japan-regulator-orders-local-ftx-unit-to-suspend-operations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/japan-regulator-orders-local-ftx-unit-to-suspend-operations\/","title":{"rendered":"Japan regulator orders local FTX unit to suspend operations"},"content":{"rendered":"<p>The Japanese Financial Services Agency <a href=\"https:\/\/www.fsa.go.jp\/news\/r4\/sonota\/20221110\/20221110.html\">\u043f\u0440\u0435\u0434\u043f\u0438\u0441\u0430\u043b\u043e<\/a> the local unit of the FTX exchange to suspend operations and switch to close-only mode (users can close positions, but cannot open new ones).<\/p>\n<p>The restrictions are in effect until December 9. Authorities <a href=\"https:\/\/lfb.mof.go.jp\/kantou\/kinyuu\/pagekthp202211103297.html\">\u043e\u0442\u043c\u0435\u0442\u0438\u043b\u0438<\/a> that the platform halted withdrawals \u201cwithout indicating a recovery date,\u201d but continues to accept deposits and conduct operations.<\/p>\n<p>According to the <a href=\"https:\/\/help-jp.ftx.com\/hc\/ja\/articles\/12394973954329--%E7%B6%9A%E5%A0%B1-FTX-JP%E3%81%8B%E3%82%89%E3%81%AE%E5%87%BA%E9%87%91%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E5%86%8D%E9%96%8B%E3%81%AB%E3%81%A4%E3%81%84%E3%81%A6\">\u0437\u0430\u044f\u0432\u043b\u0435\u043d\u0438\u044e<\/a> FTX JP, \u0431\u0438\u0440\u0436\u0430 \u0432\u043e\u0437\u043e\u0431\u043d\u043e\u0432\u0438\u043b\u0430 \u0432\u044b\u0432\u043e\u0434 \u0441\u0440\u0435\u0434\u0441\u0442\u0432 \u0432 \u0438\u0435\u043d\u0430\u0445.<\/p>\n<p>The Turkish unit said it planned to convert users&#8217; balances to Turkish Lira at a 1:1 ratio for subsequent transfer to bank accounts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"tr\">We plan to share today our roadmap for sending all remaining Turkish Lira balances and the roadmap for converting users&#8217; crypto balances to Turkish Lira and sending them to bank accounts.<\/p>\n<p>\u2014 FTX TR (@FTX_TR) <a href=\"https:\/\/twitter.com\/FTX_TR\/status\/1590944122369892352?ref_src=twsrc%5Etfw\">November 11, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On November 6, Binance CEO Changpeng Zhao <a href=\"https:\/\/forklog.com\/en\/news\/alameda-research-says-it-would-buy-ftt-from-binance-at-22-per-token\">stated<\/a> the company&#8217;s aim to rid itself of the FTX exchange&#8217;s utility token FTT. Assets, together with BUSD, totaling about $2.1 billion, were the result of the company&#8217;s exit from its portfolio investment in the platform.<\/p>\n<p>On November 8, Sam Bankman-Fried and Zhao <a href=\"https:\/\/forklog.com\/en\/news\/binance-chief-changpeng-zhao-announces-purchase-of-ftx\">announced<\/a> a strategic partnership<\/a>, but on November 10 <a href=\"https:\/\/forklog.com\/en\/news\/binance-abandons-bid-for-ftx-justin-sun-says-he-will-help-find-a-solution\">Binance withdrew from acquiring FTX<\/a>. The company said it would not be able to resolve the problems facing the exchange.<\/p>\n<p>According to Bloomberg and WSJ, the &#8216;hole&#8217; in the platform&#8217;s balance sheet amounted to $8 billion.<\/p>\n<p>Subsequently, the Bahamas Securities Commission <a href=\"https:\/\/forklog.com\/en\/news\/bahamas-regulator-freezes-ftx-assets\">blocked the assets of FTX Digital Markets<\/a> and affiliated entities, and also suspended the company&#8217;s licence in the country.<\/p>\n<p>Earlier, in February, FTX <a href=\"https:\/\/forklog.com\/en\/news\/ftx-agrees-to-acquire-liquid-the-bitcoin-exchange\">absorbed<\/a> the Japanese crypto exchange Liquid. In the summer, Bankman-Fried&#8217;s company <a href=\"https:\/\/forklog.com\/en\/news\/ftx-opens-japan-unit-as-crypto-com-secures-dubai-license\">announced<\/a> the launch of a local subsidiary.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Japanese Financial Services Agency ordered the local unit of the FTX exchange to suspend operations and switch to close-only mode (users can close positions, but cannot open new ones).<\/p>\n","protected":false},"author":1,"featured_media":69908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,135,36,920],"class_list":["post-69907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-japan","tag-regulation","tag-turkey"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69907"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69907\/revisions"}],"predecessor-version":[{"id":69909,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69907\/revisions\/69909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69908"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}