On July 10, 2025, a group of Chinese creditors is challenging a motion by the FTX estate to pause payouts to residents in countries with restrictive cryptocurrency laws. (Source: CoinTelegraph, CryptoSlate, The Block)
The objection, led by Weiwei Ji, representing over 300 Chinese creditors, argues that cryptocurrency distributions are legal in China and that FTX settlements should be made in US dollars. Ji's family holds accounts with claims exceeding $15 million USD.
The FTX estate filed the motion on July 2, citing potential legal penalties for distributions in restricted jurisdictions. The motion identified 49 countries, including China, where crypto laws are unclear or restrictive. Repayments began on February 18, 2025, based on asset values from November 2022.