FTX Proposes an Offshore Exchange for Non-US Users in its Reorganization Plan.

The post FTX Proposes an Offshore Exchange for Non-US Users in its Reorganization Plan. appeared first on Coinpedia Fintech News

FTX, a cryptocurrency exchange, has proposed a plan to establish a “rebooted” offshore exchange available to non-US users, according to a draft plan submitted to the court. If approved, the reorganization plan will sort claimants into different groups, identifying FTX.com offshore exchange users as “dotcom customers” and FTX US users as “US customers”. The plan proposes that each dot com customer will receive a pro-rata share of the proceeds from a pool of assets associated with the FTX.com exchange, net of expenses. Claims from non-customers, such as regulatory penalties and taxes, would be subordinated.