The Financial Services Agency of Japan (FSA) announced on Friday that the Kanto Local Finance Bureau has extended the suspension of FTX Japan, a Japanese subsidiary of the bankrupt cryptocurrency exchange FTX, from December 9, 2022 to March 9, 2023.

Meanwhile, the FSA issued an order in November requiring FTX Japan to submit a business improvement order before November 26th. In this new administrative action, the agency stated that this order is still valid.

At the beginning of this month, FTX Japan announced plans to refund customers' funds as early as January 2023, but could not provide a specific time for resuming the cash out service. The FSA stated that it will continue to suspend the trading institution from accepting new orders.

Recently, FTX has attempted to sell most of its business. Last month, the global institutional digital currency platform HAYVN stated that it is considering acquiring FTX's payment business. In addition, the sale of LedgerX, a digital currency futures clearing house under FTX, has also attracted interest from cryptocurrency companies such as Blockchain. com, Gemini, Bitpanda, and Kalsh.