• Wed. Mar 29th, 2023



Australia’s regulator has suspended the License of the local FTX branch


Dec 8, 2022

Australia’s regulator has suspended the License of the local FTX branch

The Australian Securities and Investment Commission (ASIC) has suspended the license to provide financial services issued by the local Bitcoin tour of FTX. This is stated in the press release.

Restrictions are valid until May 15, 2023. However, ASIC allowed FTX Australia to provide “limited financial services” until December 19, 2022.

The regulator added that John Muavad, Scott Langdon and Rahul Goyal from Kordamentha are appointed voluntary administrators of FTX Australia and her “daughters” FTX Express Pty Ltd.

In March, Sam Bankman-Frida announced the opening of a unit in Australia and obtaining a license to provide financial services. The platform offered users a complete set of exchange and over -the -term products, as well as derivatives.

On November 11, FTX Group filed an insolvency application in accordance with Chapter 11 of the US Code of Bankruptcy. Bankman-Frida left the post of CEO.

According to the documents for the court, the operator of the bitcoin tenge has more than a million creditors. Bloomberg considered unlikely the return of funds by customers.

Recall that the Bahamas securities commission blocked the FTX Digital Markets assets and affiliated legal entities, as well as suspended the company’s license in the country.

Cyprus authorities have taken similar steps against FTX Europe.

On November 15, the Supreme Court of the Bahamsk Islands granted the regulator’s Reddit NFT avatars request for the appointment of temporary liquidators FTX Digital Markets.

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