FTX applies to the court for the implementation of the "restricted processing procedure", and China and other regions may lose their claims rights

PANews reported on July 4 that Sunil, a representative of FTX creditors, tweeted that FTX has applied for court approval to allow a new "restricted processing procedure" to be implemented in 49 restricted jurisdictions (including China). FTX will seek legal advice. If it is possible to distribute to potential restricted jurisdictions, compensation will be paid normally. Otherwise, a restricted processing procedure will be initiated and creditors will lose their distribution rights. These restricted jurisdictions account for about 5% of the total claims, of which China's claims account for 82% of the value.