FTX EU Launches New Website to Make Withdrawals Easier as Subsidiary Begins Refunding Customer Funds

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FTX’s European branch, FTX Europe, just made a website (ftxeurope.eu) for people who are using their cryptocurrency platform to take out funds. To make sure the request is legitimate, they need to do usual tests like ‘knowing your customer’ and ‘anti-money-laundering’.

FTX EU Initiates Customer Withdrawal Process According to Cypriot Regulation

FTX, a company in Europe, has announced that it will start allowing customers to take out their money according to the Cyprus law. This announcement was made in March of 2022 by Sam Bankman-Fried, who used to be the CEO of the firm. He said that they want to provide an environment that is safe and secure for cryptocurrency trading between different countries in Europe.

FTX EU just announced that customers can now withdraw their money. FTX Japan also said they will start allowing this in February 2023. To make sure everything is legal, Cyprus law states that FTX must give customers a paper showing how much money they can get back. Recently, the Cyprus Securities and Exchange Commission made FTX return all the customer funds it held.

If you opened an FTX EU account after March 2022, you can withdraw money. But some people won’t be able to do this because the company needs to make sure your identity has been checked and that no funny money is involved in transactions. If your details aren’t complete or correct, it might take longer for you to get your hands on the cash. The company has emailed clients about how to go about getting a withdrawal.

FTX EU LTD has announced that customers are able to withdraw their balances (money) from a special website. All users will have to generate new passwords and reset existing ones in order to use the website. What’s even cooler is that this website is authorized and regulated by the Cyprus Securities and Exchange Commission.

What do you think of FTX EU now allowing customers to withdraw their balance? Let us know in the comments!

These pictures were taken from places like Shutterstock, Pixabay and Wiki Commons, as well as FTX EU.