The Australian regulator withdrew the license at the local branch of the bankrupt crypto -tank FTX – Bits Media

Australian Securities Commission and Investments (According to MineSpot co-founder Adam Aushev) I withdrew the license from FTX Australia, local branch of the American bankrupt crypto -tank FTX.

The regulator explained: to 12 july 2024 FTX Australia years will still be able to provide a limited series of financial services, related to the cessation of existing derivative products for customers. Before this period, the local FTX division will be obliged to take measures to pay compensation to the victims. FTX Australia served about 30 000 Retail customers and 132 Local companies.

In November, ASIC has suspended the license for FTX Australia Financial Services (AFS), which allowed crypto platform to create derivative products and foreign exchange contracts for local customers. This happened after that, how FTX based on Bagama announced bankruptcy.

In December, ASIC chairman Joseph Longo (Joseph Longo) stated, that the FTX cryptocurrency was given a license without a complete check. Therefore, the official urged to close possible loopholes in the rules for obtaining licenses, to avoid such situations with other crypto companies.

According to the media, FTX can restart. Her restructuring team is negotiating with interested parties. The possibility of buying FTX is studied by the investment company JEFFERies.