In November 2022, FTX made the decision to temporarily halt the process of onboarding new clients and also suspended withdrawals. This move was made in the midst of hopes for a potential rescue plan for the cryptocurrency. As a result, FTX aimed to address any existing issues and ensure the stability and security of their platform. By temporarily pausing onboarding and withdrawals, FTX could focus on resolving any concerns and implementing necessary measures to protect their clients’ assets. This decision was made with the intention of safeguarding the interests of both FTX and their users during this critical period.
HomeDIGITAL ASSETS REGULATORYbis_asset_updatePotential Risks to Financial Stability in Developing Countries Posed by Cryptocurrencies