Securities Commission of The Bahamas assumes control of assets of FDM

2022/11/18 01:40

Securities Commission of The Bahamas tweeted: "Securities Commission of The Bahamas Assumes Control of Assets of FTX Digital Markets Ltd."
According to the statement, the Securities Commission of The Bahamas ("the Commission"), in the exercise of its powers as regulator acting under the authority of an Order made by the Supreme Court of The Bahamas, took the action of directing the transfer of all digital assets of FTX Digital Markets Ltd. ("FDM") to a digital wallet controlled by the Commission, for safekeeping. Urgent interim regulatory action was necessary to protect the interests of clients and creditors of FDM.
Under the Digital Assets and Registered Exchanges Act, 2020 ("DARE Act"), the Commission has the authority to apply for a judicial order to protect the interests of clients or customers of a registrant of the Commission under the DARE Act.

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