FTX Japan restart plan confirmed! Holding two key Japanese regulatory licenses, still with a large number of potential buyers

FTX Japan has been rumored to potentially resume operations in early April, and this news has been confirmed in recent legal documents, indicating a restart pending approval from Japanese regulatory authorities. Furthermore, as FTX Japan holds two key licenses to operate cryptocurrency exchanges in Japan, there are still many potential buyers interested in acquisition.

FTX Japan Restart Confirmation: Auction Process Postponed

Since the bankruptcy of FTX, users of FTX Japan have experienced months of asset freeze, but under the protection of Japanese regulatory policies, user funds are secure and withdrawals have been allowed since February this year. According to previous reports, there seems to be a possibility of a restart for FTX Japan, as John Ray, the CEO of the FTX restructuring team, has been discussing and planning the restart of FTX Japan in his work records for March.

In recent bankruptcy court documents in Docket 1359, there have been clearer developments regarding the restart of FTX Japan. Pages 6 and 7 of the documents state, "The potential sale process has been postponed to allow the exchange to restart operations after obtaining regulatory approval, thereby maximizing the achievable transaction value."

At the same time, the documents also mention that the debtor is considering a potential restructuring plan that requires the company to continue operating efficiently and profitably.

FTX Japan Restart Confirmation: Two Regulatory Licenses Key to Survival

Although the auction plan has been postponed, there is still significant interest from investors in acquiring FTX Japan. In addition to ongoing improvements in the company's operations leading to this phenomenon, the two licenses held by FTX Japan, "Cryptocurrency Exchange Service Provider" and "Type I Financial Instruments Business Operator," are crucial.

The documents point out that these two licenses typically take two years or longer to obtain. Without these permits, companies will not be able to legally operate spot and derivative cryptocurrency exchanges in Japan, making the acquisition of FTX Japan attractive to many potential buyers.

However, due to the two orders issued by the Japanese Financial Services Agency to FTX Japan on November 10th last year, the licensing status is at risk. If the exchange business is not restored in time, FTX Japan's licenses are likely to be revoked or suspended.