The Bahamas Attorney General (AG) and Minister of Legal Affairs Ryan Pinder has confirmed that the collapsed crypto exchange FTX is the focus of an “active and ongoing” investigation by authorities from the Caribbean nation.
In a national statement that was delivered live on the Facebook page of the Office of the Prime Minister on Nov. 27, 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.”
“These events remind us of the lessons learned from securities and other financial regulation about the need for strong cross-border cooperation.
The Securities Commission of the Bahamas suspended FTX Digital Markets (FDM) license to conduct business and stripped its directors of their power on Nov. 10.
With FTX gone, so have many jobs in the small nation.
“Standards and Poor has projected a stable outlook for our economy resting in part on the assumption that there will be no material adverse impact on the Bahamas from the worldwide collapse of FTX,” Pinder said.
Source: Cointelegraph