1 year ago
In a property merchandise connected Nov. 12, the Securities Commission of The Bahamas (SCB) contradicted the connection published by FTX astir resuming withdrawals successful The Bahamas.
Securities Commission Addresses FTX Statement connected Bahamian Withdrawals pic.twitter.com/OZKWwicSuN
— Securities Commission of The Bahamas (@SCBgov_bs) November 12, 2022
On Nov. 11, the erstwhile caput of organization income astatine FTX, Zane Tackett, announced connected Twitter that the speech would let withdrawals for Bahamanian clients. In the statement, Tackett said that the withdrawals were enabled successful compliance with regulators.
1) Per our Bahamian HQ's regularisation and regulators, we person begun to facilitate withdrawals of Bahamian funds. As such, you whitethorn person seen immoderate withdrawals processed by FTX precocious arsenic we complied with the regulators.
— Zane Tackett (@tackettzane) November 10, 2022
This led to a ample fig of FTX users trying to funnel funds done the assistance of Bahamians. Some adjacent offered bribes to FTX employees to alteration their state to The Bahamas and assistance retreat funds.
However, the SCB said that the regulator neither “directed, authorized, oregon suggested” FTX to prioritize section withdrawals.
In fact, the SCB property merchandise stated:
“The Committee further notes that specified transactions whitethorn beryllium characterized arsenic voidable preferences nether the insolvency authorities and consequently effect successful clawing backmost funds from Bahamian customers.”
In different words, the regulator made it wide that the withdrawals processed by FTX for Bahamian clients whitethorn beryllium considered void and, therefore, reversed. The regulator firmly added that it does not “condone” the preferential attraction of immoderate FTX customers.
The station Bahamas Securities Commission neither “authorized” nor condones FTX enabling section withdrawals appeared archetypal connected CryptoSlate.
English (US) 