FTX warns creditors in 49 restricted jurisdictions, including China, Russia, and much of the CIS, that their claims could be voided. A new court filing says the Recovery Trust will treat claims from countries where crypto trading is banned or local agents cannot operate as disputed. If the judge approves, a Restricted Jurisdiction Notice will go out and any claimant who cannot satisfy enhanced compliance checks risks a zero recovery. Chinese users alone represent 82 percent of the frozen claim value even though they are only 5 percent of approved claims.

FTX warns creditors in 49 restricted jurisdictions, including China, Russia, and much of the CIS, that their claims could be voided.

A new court filing says the Recovery Trust will treat claims from countries where crypto trading is banned or local agents cannot operate as disputed. If the judge approves, a Restricted Jurisdiction Notice will go out and any claimant who cannot satisfy enhanced compliance checks risks a zero recovery.  

Chinese users alone represent 82 percent of the frozen claim value even though they are only 5 percent of approved claims.
The Block
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