FTX Europe, a subsidiary of FTX, has released a new website enabling customers to make withdrawals from the cryptocurrency exchange. All requests must be made via the website and will be subject to KYC and AML verifications.
FTX Europe Permits Withdrawals of Funds
A press release was published on Friday announcing that FTX Europe, a FTX subsidiary launched in March 2022, will be returning segregated money to customers in accordance with Cyprus law. Sam Bankman-Fried, CEO of the company, declared that the firm would be interacting with regulators from numerous European countries to maintain a secure environment for crypto trading.
The news about FTX Europe allowing withdrawals comes after FTX Japan said that users could begin withdrawing funds in the middle of the year. As for the European branch, the company is offering a statement about customers’ fiat currency fund balances to abide by Cyprus law. FTX EU was forced to give back customer funds as its license was suspended by the Cyprus Securities And Exchange Commission.
Only clients from FTX EU who opened an account after March 2022 are able to withdraw, yet some business partners won’t be eligible. Additionally, customers must go through formal KYC and AML verifications. According to the firm, FTX EU has sent FTX EU clients an email about the withdrawal process. “Each FTX EU LTD customer will be entitled to withdraw their balance (in fiat currency) segregated in designated customer accounts,” the announcement reads.
Users must reset their passwords and create new ones on the new website. FTX EU is also authorized and regulated by the Cyprus Securities and Exchange Commission.
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Image Credits: Shutterstock, Pixabay, Wiki CommonsFTX EU
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