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FTX customers in Japan and Turkey can withdraw modest sums to their bank accounts through the exchange’s regional operations in the country.
The Financial Services Agency (FSA) of Japan voiced worry over the crypto exchange’s viability, prompting FTX Japan to begin yen withdrawals. FTX Turkey, on the other hand, stated that it was trying to deliver all Turkish Lira balances to its clients.
FTX Japan announced the news in brief statement on its website on Friday. In a Friday tweet, FTX Turkey conveyed their warning. On Thursday, the Turkish subsidiary announced that customer balances will be immediately converted into Turkish lira at a 1:1 ratio. The text read:
“Our roadmap for sending all remaining Turkish Lira balances and Today, we plan to share the roadmap for converting users’ crypto balances into Turkish Lira and sending them to their bank accounts.”
On Thursday, Japan’s FSA ordered FTX Japan to enter “close-only” mode, which means customers should be allowed to terminate current positions but not begin new ones. The regulator highlighted in the decision that the exchange had suspended withdrawals without stating a timeframe for their resumption and that new customers are still welcome.
Withdrawals on FTX International remain suspended today until further notice. Meanwhile, authorities in Japan, Australia, the U.S. and elsewhere around the globe have announced to dig deep into the matter to find wrongdoing and who to hold accountable.