(Reuters) – Australia’s securities regulator mentioned on Wednesday it had revoked the license of the native department of collapsed U.S. cryptocurrency change FTX, efficient July 14.
Bahamas-headquartered FTX, as soon as a crypto trade star with a January 2023 valuation of $32 billion, filed for chapter safety in the USA final November, claiming that she was unable to totally refund prospects who had deposited funds on her change.
The trade has since been reeling from the scrutiny of worldwide regulators, whereas FTX founder Sam Bankman-Fried faces legal prosecution from the US authorities for alleged fraud. He denies the allegations and pleads not responsible.
The Australian Securities & Investments Fee (ASIC) final November suspended the license till Might, resuming permission for FTX to commerce derivatives and international change contracts with retail and wholesale purchasers.
FTX Australia can proceed to offer restricted monetary providers for termination of current derivatives with purchasers till July 12, 2024, the regulator mentioned on Wednesday.
Cancellation of the license has no impact on necessities for FTX Australia to stay a member of the Australian Monetary Complaints Authority and to make preparations to compensate retail prospects, it added.
FTX didn’t instantly reply to a request for remark from Reuters.
