FTX-owned Japanese fintech company Liquid has <a href="https://blog.liquid.com/ja/%E3%81%8A%E5%AE%A2%E6%A7%98%E3%81%B8%E3%81%AE%E8%B3%87%E7%94%A3%E8%BF%94%E9%82%84%E3%81%AB%E9%96%A2%E3%81%99%E3%82%8B%E3%81%94%E6%A1%88%E5%86%85" target="_blank" rel="nofollow noopener">unveiled</a> its strategy for returning consumer funds. According to a statement, the reimbursement procedure would be exclusive to individuals who have accounts with <a href="https://www.cryptoknowmics.com/news/ftx-japan-gets-three-month-reprieve-to-stop-business">FTX Japan</a> and Liquid Japan.
<h2>Liquid Crypto Exchange to Return Funds</h2>
According to a transcribed press release from the firm, they are moving forward with developing the system so that <a href="https://www.cryptoknowmics.com/news/bybit-offers-new-kyc-rules-for-p2p-trading-fiat-deposits-and-nft-trades">deposits</a> and withdrawals will be feasible via the Japanese crypto exchange online edition for the assets that the clients at FTX Japan and Liquid Japan have committed. In particular, users may use the Japanese crypto exchange online version to verify their FTX Japan balance and then withdraw or take out money.

The Japanese crypto exchange reminded its audience on Twitter on December 14 that they were working with <a href="https://www.cryptoknowmics.com/news/regulators-in-bahamas-are-holding-3-5-billion-in-ftx-user-assets">FTX</a> debtors about the exchange and had not neglected its customers.

https://twitter.com/Liquid_Global/status/1602820866772828160
<h2>Suspension of Withdrawals</h2>
In March, FTX completed the purchase of the Japanese crypto exchange, which conducts business in Vietnam, <a href="https://www.cryptoknowmics.com/news/token2049-to-return-to-singapore-in-september-2023">Singapore</a>, and Japan. Following the liquidity crisis of FTX, Liquid's parent business was experiencing all withdrawals that were stopped on November 15.

The exchange followed FTX Trading's directions and abruptly stopped all trading on its platform on November 21. In response to FTX's <a href="https://www.cryptoknowmics.com/news/celsius-receives-extension-to-file-chapter-11-restructuring-plan">Chapter 11</a> bankruptcy filing, the announcement claims that the Japanese crypto exchange halted all types of trade.
<h2>Payment Services Act License</h2>
On the day following a class action lawsuit aiming to give FTX consumers' money-back more priority, the Japanese crypto exchange made its move. Liquid, a cryptocurrency exchange established in 2014, holds a Payment Services Act license through its Japanese operational business, <a href="https://www.cryptoknowmics.com/news/japanese-crypto-exchange-quoine-fined-67k-for-customer-data-breach">Quoine Corporation</a>. FTX purchased Liquid Group as well as its affiliates in February.

FTX-Owned Company Declares Intention to Refund Client Funds

Liquid has unveiled its strategy for returning consumer funds. The reimbursement procedure would be exclusive to individuals who have accounts in FTX Japan.

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FTX-Owned Company Declares Intention to Refund Client Funds

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