Bahamas Securities Regulator takes full control of FTX’s digital assets

On 12 November 2022, the Securities Commission of The Bahamas took the action of directing the transfer of all digital assets of FTX Digital Markets Ltd. (“FDM”) to a digital wallet controlled by the Commission, for safekeeping.

Per the commission, “urgent interim regulatory action” was essential to “protect the interests of clients and creditors of FDM.”