On July 6th, Chinese crypto KOL @zhetengji expressed his opinion on "FTX creditors say that they may confiscate Chinese users' claims funds": "FTX's claims are denominated and settled in US dollars, and have now entered the compensation distribution stage, which has nothing to do with cryptocurrency regulation. There is no legal risk for Chinese citizens to receive compensation in US dollars. FTX Recovery Trust's motion lacks a legitimate legal basis from the outset.
In addition, in the bankruptcy case of Celsius, which is also an American cryptocurrency company, they paid their creditors through bank telegraphic transfer, and the Chinese creditors also received the compensation smoothly. "@zhetengji believes that FTX can compensate Chinese creditors in the same way.
Previously, FTX creditors on behalf of Sunil posted on social media that 82% of the claimed funds in FTX restricted countries belong to Chinese users, but currently cryptocurrency trading in China is not allowed and there is no distributor that can be authorized. According to the documents provided by Sunil, FTX will seek legal advice and will do so if it can be distributed to a potentially restricted foreign jurisdiction. If it is determined that the resident belongs to a restricted foreign jurisdiction, the claim will be disputed, and the distribution may be forfeited.
Opinion: Due to the crypto ban, there is no legal basis for confiscating Chinese users' FTX claims, and FTX claims are denominated and settled in US dollars
2025-07-06 05:10:43
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