Search Results for: Securities Commission of The Bahamas

US Lawmaker Suggests ‘Maybe’ Crypto Should Be Banned Citing Bigger Issues Than FTX

by

A U.S. senator has suggested that cryptocurrency should “maybe” be banned following the collapse of crypto exchange FTX. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how that will work.” Senator Sherrod…

SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries

by

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stressed the importance of bringing “intermediaries and issuers of crypto securities” into compliance. In addition, the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) has recommended that regulatory…

Reports Suggest Caroline Ellison Is Working With Feds and Snitching on FTX Co-Founder Bankman-Fried

by

Following the arrest of the former FTX boss Sam Bankman-Fried (SBF), spectators continue to wonder where ex-Alameda Research CEO Caroline Ellison is, and whether or not she turned on SBF. A few reports suggest Ellison is “likely working with feds” and…

Bahamian Government Officials Allegedly Asked SBF to Mint Millions of Dollars in New Tokens Amid the FTX Collapse

by

On Monday, court documents from lawyers involved with the FTX Trading LTD Chapter 11 bankruptcy case allege that the government of The Bahamas asked the disgraced FTX co-founder Sam Bankman-Fried (SBF) to mint new crypto tokens. The lawyers detailed that it…

Australia Suspends Financial Services License of Local FTX Entity

by

Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate…

Bahamas Regulator Appoints ‘Big Four’ Auditor PWC as Joint Provisional FTX Liquidator

by

On Nov. 14, 2022, the Securities Commission of the Bahamas (SCB) published a press release that explains the ‘Big Four’ accounting firm PWC (Pricewaterhousecoopers) has been designated as provisional liquidator in the FTX investigation. The SCB detailed that “given the magnitude”…

Royal Bahamas Police Force Reveals FTX Is Being Investigated for ‘Criminal Misconduct’

by

“A team of financial investigators” are currently investigating the now-defunct crypto exchange FTX, the Royal Bahamas Police Force said in a statement shared on Sunday. The police noted that the financial investigators were searching to see if “any criminal misconduct occurred.”…