Bahamas Regulator Freezes FTX Assets — Supreme Court Appoints Provisional Liq...
The Bahamas Securities Commission has frozen the assets of FTX Digital Markets and related parties. The financial regulator said the prudent course of action is to put the crypto firm “into provisional liquidation to preserve assets and stabilize the company.” Bahamas Securities Regulator Takes Action Against FTX The Securities Commission of the Bahamas announced Thursday that it has taken action to “freeze assets of FTX Digital Markets and related parties.” FTX Digital Markets is the Bahamian subsidiary of Sam Bankman-Fried’s FTX Trading Ltd., which owns and....
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The Bahamas Securities Commission said FTX's assets could not be moved without the approval of a Supreme Court-appointed liquidator. The Bahamas Securities Commission (BSC) — the country's securities regulator — froze the assets of FTX Digital Markets (FDM) and "related parties" on Nov. 10 and suspended FTX's registration in the country.In a statement the BSC said it was aware of "public statements suggesting that clients' assets were mishandled, mismanaged and/or transferred to Alameda Research."Alameda is a trading firm founded by FTX CEO Sam Bankman-Fried, a leaked balance sheet from....
A South African High Court recently served Mirror Trading International (MTI)’s Johann and Nerina Steynberg with a provisional sequestration order. The court’s decision follows a successful court application by the five joint provisional liquidators of the now-defunct online bitcoin scam. Sequestration Not Final According to a report, the order was reportedly served on the Steynbergs’ residential address at Eagle Crest in Polokwane. However, the report adds that the Steynbergs still “have until the return date of July 20, 2021, to give reasons why final....
A federal court has appointed a receiver for Cryptsy, the cryptocurrency exchange that claims to have lost $5 million in funds to theft. In response to the lawsuit by Cryptsy clients seeking to recover their funds, the U.S. District Court Southern District of Florida appointed James D. Sallah, Esq. as the receiver and given him control of Cryptsy’s assets. The court has taken possession of Cryptsy’s assets, “of whatever kind and wherever situated.” All powers of the company’s agents, employees, officers and directors are suspended. The court assigned the receiver in response to a suit by....
A US Supreme Court case has caught the interest of the crypto community, especially the XRP community, as it could significantly impact Ripple’s ongoing legal battle against the US Securities and Exchange Commission (SEC). The US Supreme Court is set to decide on whether or not to overrule the Chevron Deference Doctrine in the ongoing […]
A major cryptocurrency exchange in the UAE, Bitoasis, has obtained provisional approval from Dubai’s new cryptocurrency regulator. Binance and FTX have also been green-lighted by the regulator. Bitoasis Pursuing License From Dubai’s New Crypto Regulator Bitoasis, a major crypto exchange founded and headquartered in Dubai, announced Wednesday that it has received “provisional approval” from Dubai’s new crypto regulator, the Virtual Assets Regulatory Authority (VARA). Dubai adopted its first law to regulate the crypto sector earlier this month and....