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According to FT, the Bahamas could not have prevented the failure of digital asset exchange FTX and has found no “deficiencies” in its crypto regulations, the country’s prime minister Philip Davis told parliament on Wednesday. Philip Davis said his country did not have sole oversight of FTX’s worldwide operation and investigations into the collapse of Sam Bankman-Fried’s crypto empire would be of “national importance”. “Based on the analysis and understanding of the FTX liquidity crisis to date, we have not identified any deficiencies in our regulatory framework that could have avoided this,” Davis said in prepared remarks. He added that the Bahamas securities regulator was able to “take the immediate steps” because the country already had a regulatory framework for digital assets in place. Davis said that FTX-related probes “are to be of the highest order and given precedence, given the amounts involved and because committed and rigorous oversight is of national importance. He added that he had every confidence that “the Bahamas will emerge from the proceedings involving FTX . . . with an enhanced reputation as a solid digital asset jurisdiction”.

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【Bahamas could not have prevented FTX collapse, prime minister says】According to FT, the Bahamas could not have prevented the failure of digital asset exchange FTX and has found no “deficiencies” in its crypto regulations, the country’s prime minister Philip Davis told parliament on Wednesday. Philip Davis said his country did not have sole oversight of FTX’s worldwide operation and investigations into the collapse of Sam Bankman-Fried’s crypto empire would be of “national importance”. “Based on the analysis and understanding of the FTX liquidity crisis to date, we have not identified any deficiencies in our regulatory framework that could have avoided this,” Davis said in prepared remarks. He added that the Bahamas securities regulator was able to “take the immediate steps” because the country already had a regulatory framework for digital assets in place. Davis said that FTX-related probes “are to be of the highest order and given precedence, given the amounts involved and because committed and rigorous oversight is of national importance. He added that he had every confidence that “the Bahamas will emerge from the proceedings involving FTX . . . with an enhanced reputation as a solid digital asset jurisdiction”.

Bahamas could not have prevented FTX collapse, prime minister says

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