FTX Faces Pushback Over Crypto Payout Ban in 49 Countries

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FTX Faces Pushback Over Crypto Payout Ban in 49 Countries

Written by Aaron S.,

Editor-In-Chief

Last Updated: July 10, 2025

Key Takeaways

Weiwei Ji opposed FTX’s request to block payments to users in crypto-restricted countries;
Ji argued that Chinese law permits crypto ownership and that payouts are made in US dollars;
FTX warned that sending funds to 49 listed countries could lead to legal or criminal risks.

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FTX Faces Pushback Over Crypto Payout Ban in 49 Countries

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A Chinese national has objected to a recent request by the FTX estate that would halt payments to people in countries with rules that limit or ban cryptocurrency use.

Weiwei Ji lives in Singapore but was grouped as a Chinese creditor because of their passport.

According to a July 8 filing, Ji stated that the objection was submitted on both personal grounds and for over 300 other Chinese claimants who may be affected.

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The complaint stated that FTX is making repayments in US dollars. It also claimed that Chinese laws do not ban owning or receiving crypto. In China, digital assets are considered a form of personal property.

Ji noted that their family holds four verified accounts with claims worth over $15 million. The filing stated that they followed all the rules under the repayment plan. Ji noted that the FTX estate’s proposal would block access to funds without proper cause.

The FTX estate had filed its motion on July 2. It asked the court for permission to stop payouts to people in 49 countries where crypto laws are unclear or restrictive.

The estate warned that sending payments to these regions might result in fines, legal issues for its staff, or even criminal charges. These risks, the estate said, could come from violating local laws.

According to the filing, about 5% of the total value of approved claims comes from residents of these regions. The list includes China, Russia, Egypt, Ukraine, Afghanistan, Zimbabwe, Tunisia, and Moldova.

Meanwhile, Shaquille O’Neal agreed to a $1.8 million settlement over claims he promoted FTX to users. How will the money be used? Read the full story.