FTX is now under the scanner of Bahamian authorities.
The crypto exchange shifted base to the islands last September.
Bahamas is among the few countries which have successfully launched a CBDC.
Bahamian authorities begin investigating FTX
Sleuths from the Financial Crimes Investigation Branch are working with the Securities Commission of Bahamas to unearth any criminal misconduct that FTX may have engaged in.
The Securities Commission of Bahamas is the financial watchdog in the Bahamas, the equivalent of the Securities and Exchange Commission (SEC) in the U.S.A.
The financial watchdog via an order issued on Thursday froze FTX’s assets, suspended its operation registration and sought the Supreme Court of Bahamas’s intervention to appoint a liquidator.
Sam Bankman-Fried (a.k.a SBF) announced last September that the exchange had shifted base to the island nation from Hong Kong because of the regulatory clarity it offered. Also, the island nation already showed signs of being crypto-fr
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