FTX launches regulated platform in The Bahamas

A subsidiary of the cryptocurrency exchange FTX has been registered by the Securities Commission of The Bahamas as a digital assets business.

1) Today we’re proud to announce that FTX has been registered with the Securities Commission of The Bahamas under the DARE Act of 2020.https://t.co/C0Qs0ypcf7

— SBF (@SBF_FTX) September 20, 2021

According to the statement, FTX Digital Markets was the first in the jurisdiction to receive a licence under the Digital Asset Registered Exchanges Act (DARE Act).

“With this expansion enabled by the DARE Act, we are committed to providing our clients with a safe, reliable and regulation-compliant exchange,” said FTX founder and CEO Sam Bankman-Fried.

According to him, the company aims to maintain cooperative relationships with regulators in order to “work together toward building a comprehensive regulatory framework” for the new asset class.

On September 17, another FTX subsidiary—the crypto-derivatives exchange ZUBR—получила licence blockchain services provider from the Gibraltar Financial Services Commission.

FTX bought the platform based in that jurisdiction in early 2021.

Earlier, FTX’s U.S. subsidiary acquired the regulated cryptocurrency derivatives exchange LedgerX. The platform received a license as an authorised derivatives market from the U.S. Commodity Futures Trading Commission in 2019.