Region: Bahamas

New FTX chief describes litany of control failures

New information from FTX’s chapter 11 petition have shown how unseriously the management of the world’s second-largest crypto exchange took basic controls, after its former CEO revealed his true feelings towards regulators in a late-night interview.

21 November 2022

Regulators brace for FTX fallout

The fall of FTX – the world’s second-biggest crypto exchange and the second major crypto collapse of 2022 – will “embolden” supporters of a more restrictive crypto regulatory regime, practitioners say, while the US Commodity Futures Trading Commission has come in for criticism over its supervision of the company.

15 November 2022

Crypto’s “Lehman” moment? FTX enters Chapter 11 after filings in Bahamas and Australia

The bankruptcy of the world’s second largest cryptocurrency institution, FTX has prompted calls for fresh regulation for digital assets among what some are calling crypto’s “Lehman” moment.

14 November 2022

China moves closer to digital yuan

China is closing in on its goal of issuing a digital version of its currency, publishing a draft regulatory framework that would outlaw privately-issued yuan-pegged tokens while legalising a new official digital yuan – days after The Bahamas became the first country in the world to roll out a full-scale CBDC.

26 October 2020

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