The Bahamas Attorney General and Minister of Legal Affairs Ryan Pinder has confirmed that FTX is the focus of an active and ongoing investigation by authorities from the Caribbean nation.
Pinder explained that the affairs of FTX Digital Markets are under scrutiny from both civil and criminal authorities, and Bahamian authorities are working with a number of specialists and experts and will continue to do so as the need arises.
Pinder also revealed the relevant Bahamian authorities would try to hold to account any companies or individuals found to have committed any wrongdoing during the investigation, while they will cooperate with other regulatory agencies and law enforcement bodies around the world.
These events remind us of the lessons learned from securities and other financial regulation about the need for strong cross-border cooperation. The public worldwide will be best served by a strong international regulatory cooperation,” he said.
The Securities Commission of the Bahamas suspended FTX Digital Markets license to conduct business and stripped its directors of their power on Nov. 10. On Nov. 12 they ordered the transfer of all FDM digital assets to a digital wallet owned by the commission for safekeeping.
Pinder mentioned the country’s regulatory authority has taken further protective measures approved by the Supreme Court but declined to elaborate further.
