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Breaking: FTX Victims At Risk Of Losing Claims In China and Other Restricted Jurisdictions
17 Articles
17 Articles
Bitcoin and the FTX case: effect on restricted jurisdictions
The post Bitcoin and the FTX case: effect on restricted jurisdictions appeared on BitcoinEthereumNews.com. In the landscape of digital assets, Bitcoin is often in the spotlight, but the FTX case in recent months is raising crucial issues about the repayment methods for creditors worldwide, particularly in the so-called “restricted jurisdiction markets.” The legal proceedings of FTX, with a particular focus on claims originating from China, are d…
The FTX Recovery Trust proposes to block repayments in 49 "at-risk" countries, including China, Russia, Pakistan and Ukraine, for legal and regulatory reasons. Up to $800 million could be reclassified as "disputed claims" if creditors do not challenge their status within 45 days. The measure raises a strong challenge, particularly in China, where thousands of creditors threaten to challenge the proceedings before the 22 July hearing.
FTX Petitions Court for Special Claims Process in 49 Countries with Crypto Restrictions
FTX has requested that a bankruptcy court approve a new process for handling claims of creditors residing in 49 countries potentially subject to restrictions. The defunct exchange had requested permission earlier this week in a motion filed in the Delaware Bankruptcy Court. Notably, Sunil Kavuri, a top representative of FTX’s creditors, called the public’s attention to the development, which he tagged as ‘disputed claims.’ FTX Recovery Trust w…
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