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The group managing the FTX bankruptcy withdrew his previous request to block payments to certain users based on their location.
This step affects countries that FTX previously reported due to uncertain or restrictive cryptocurrency regulations.
In an archive on November 3, him FTX Recovery Trust announced that it was he no longer follows the motion he presented in July.
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That previous move had asked the court for permission to delay or stop payments to users in 49 countriesincluding China, Russia, Saudi Arabia and Ukraine. The trust cited the legal uncertainty around cryptocurrency in those areas as the reason.
The trust noted that it could revisit the issue later. The filing states that any new attempt will follow proper court procedures and that this withdrawal will not prevent the issue from being raised again in the future.
For many creditors, in particular those in the affected regions, the decision comes as good news. Weiwei Ji, a creditor known as Will on X, shared his thoughts after the announcement.
He called it a victory for those affected, but advised others to be careful. Ji said in a November 4th post on X: :
This is a win for all potentially affected creditors. But until you receive the compensation you are owed, stay vigilant and continue to act together.
Meanwhile, Evgeny Gaevoy, head of the trading company Wintermute, recently clarified that the company does not intend to seed Binance.
$22.09 billion
about the October 10 market crash. What did he say? Read the full story.
