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The Securities Commission of The Bahamas (SCB) said it had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission on Nov. 12. In a Nov. 17 statement, the SCB said it exercised its power as a regulator acting under the
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“The Joint Provisional Liquidators’ findings to date indicate that serious fraud and mismanagement may have been committed” with respect to the group, said the document filed in the U.S. Bankruptcy Court of the Southern District of New York. The documents were filed on behalf of Brian Simms, Kevin Cambridge, and
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Brian Simms, the court-appointed provisional liquidator overseeing the bankruptcy proceedings of FTX Digital Markets in The Bahamas, has called into question the validity of a Chapter 11 bankruptcy filing by subsidiary FTX Trading and 134 other affiliates in a Delaware court on Nov. 14.In the Nov. 15 document, Simms filed
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Simms has asked the court for provisional relief including the recognition of Bahamian bankruptcy and liquidation proceedings, and orders entrusting FTX’s assets located in the U.S. to Bahamian liquidators, authorizing “urgent discovery measures,” and preventing any of FTX’s assets to be “transfer[ed], encumber[ed] or otherwise dispose[d] of.” Original Source
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The Securities Commission of The Bahamas (SCB) has denied instructing or authorizing crypto exchange FTX to prioritize withdrawals of Bahamian clients. In a statement on Nov. 12, the securities commission vehemently denied the contents of a Nov. 11 statement from FTX on Twitter that suggested it had been instructed by “Bahamian HQ’s
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Residents of the archipelago nation the Bahamas may soon be able to ues digital assets including the world’s first central bank digital currency, or CBDC, to pay for taxes.In a white paper released on Wednesday on the future of digital assets, the Bahamas’ Office of the Prime Minister said the
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