Legs and Regs

The Securities Commission of the Bahamas announced that it exercised its regulatory powers on Nov. 12, 2022, to direct the transfer of all digital assets of FTX Digital Markets Ltd. (FTX) to a wallet that it controls for safekeeping.

According to the Commission, the urgent regulatory action was necessary to protect the interests of clients and creditors of FTX. Specifically, the action was taken under the authority of an Order made by the Supreme Court of the Bahamas.