Investigations Into The Collapse Of The FTX Empire Under Way.
17 Nov 2022, 08:00
Investigations Into The Collapse Of The FTX Empire Under Way
In a November 14, 2022, media release update on FTX, the Securities Commission of The Bahamas (SCB) confirmed that it had applied to the Supreme Court to appoint a court-supervised provisional liquidator for FTX and that it had obtained approval of joint provisional liquidators from PricewaterhouseCoopers (PwC).
The SCB, which is the lead authority in the Bahamas conducting investigations into the FTX saga, was exercising its regulatory powers under the Digital Assets and Registered Exchanges (DARE) Act to protect the interests of clients, creditors, and other stakeholders. The DARE Act was passed in December 2020 after examining cryptocurrencies’ status and regulatory environment in Gibraltar, Hong Kong, Malta, Switzerland and the United States.