Why did the Bahamas take control of ftx?

The Securities Commission of The Bahamas took control of FTX digital assets valued at more than $3.5B as of Nov. 12 because it "determined that there was a significant risk of imminent dissipation" if they stayed under FTX's control, the commission said late Thursday.

What is the Bahamian Securities Commission's jurisdiction over digital assets?

The Bahamian Securities Commission has said that it has temporary and exclusive jurisdiction over the digital assets until such time as the Supreme Court of the nation grants the regulator permission to release the assets to the clients and creditors who are entitled to them or to the joint liquidators.

What is the compliance Commission of the Bahamas?

The Compliance Commission of The Bahamas (the Commission) has an ongoing enforcement program to detect non-compliance with the provisions of the FTRA, 2018. In addition, the Commission has implemented a policy on Administrative Penalties pursuant to section 33 (2) of the FTRA 2018, effective February 6 th, 2019.

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