Japan Cracks Down on FTX Unit, Freezing Exchange Activity
- Ordered local unit to suspend some operations for a month
- Doing ‘everything possible’ to protect users: finance minister
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Japan’s government has ordered FTX.com’s local subsidiary to suspend some of its operations, saying it has no structure in place to properly offer cryptocurrency exchange services to users.
The Kanto Local Finance Bureau instructed the unit to pause client services until Dec. 9, according to a statement released Thursday. The company is not allowed to accept new assets from clients over that period.