Cryptocurrency Analysis and News Portal
The Securities Commission of The Bahamas (SCB) published a draft of the Digital Assets and Registered Exchanges (DARE) Bill 2023 on April 25. The sweeping bill will undergo a consultation period with the goal of enacting it by the end of the quarter.The 2023 bill updates the DARE Act of
Read More
“Mr. Bankman-Fried, and others at his direction, maintained a close, accommodating relationship with Bahamian law enforcement agencies” including the prime minister, attorney general and Securities Commission, the filing reads, adding that the FTX founder “aimed to leverage that relationship to minimize his criminal and civil exposure should the massive fraud
Read More
PWC, one of the ‘Big Four’ auditors and among the largest professional services networks globally, recently published a report on FTX Digital Markets, the bankrupt crypto exchange’s Bahamian subsidiary. The report indicates that the entity’s accounting records have been limited, and it also noted that there is “little distinction between
Read More
Of the $219.5 million total balance FTX Digital held in banks, $21.5 million has been realized by the liquidators, and a further $54.5 million is pending transfer to them, the document said. Another $143.2 million held in U.S. accounts has been seized by the Department of Justice, and other funds
Read More
The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — has released a report on the company’s physical assets in the island nation.According to affidavit filed by a PricewaterhouseCoopers partner with the Bahamas’ supreme court on Feb. 8, FTX’s joint provisional liquidators, or JPLs,
Read More
New Hampshire is on the verge of becoming a national leader in cryptocurrency if its legislature follows through on recommendations made by a commission appointed by Governor Chris Sununu. The recommendations would establish a legal framework for blockchain and crypto businesses in the state, providing clarity and certainty to entrepreneurs
Read More
FTX Trading, which is the entity behind the FTX.com exchange, filed for bankruptcy in the U.S. last November, while FTX Digital Markets, a Bahamas-based entity, entered liquidation proceedings the same month. The joint provisional liquidators in the Bahamas and FTX Trading's U.S. leadership had butted heads over the past few
Read More
The Securities Commission of the Bahamas has disputed FTX’s claim that the value of the cryptocurrencies it seized from the bankrupt crypto exchange was not $3.5 billion. The new FTX chief’s “continued lack of diligence when making public statements concerning the Commission is disappointing,” the Bahamian regulator stressed. Bahamas Regulator and
Read More
The Bahamas will have legal representation in the unfolding FTX case. The Caribbean nation chose Brown Rudnick as counsel “in certain matters of engagement related to the collapse of FTX Digital Markets Ltd.,” alongside Bahamian lawyers and other experts, according to a statement released by the law firm. FTX Digital Markets
Read More
The Securities Commission of The Bahamas (SCB) has denied FTX debtors’ claims and expresses concern that the investigation has been ‘impeded.’According to a statement released on Jan.3, The Securities Commission of The Bahamas (SCB) has had to correct material misstatements made by John J. Ray III, the representative of the
Read More