FTX moved its headquarters from Hong Kong to the Bahamas

The cryptocurrency exchange FTX moved its headquarters from Hong Kong to the Bahamas due to a favorable regulatory stance. Bloomberg reports this, citing a company representative.

Earlier, the founder and CEO of the trading platform Sam Bankman-Fried said that the subsidiary of FTX has been registered by the Bahamas Securities Commission as a digital assets business.

“As jurisdictions implement comprehensive crypto-regulatory regimes, we are pleased to participate in this. In addition, we prioritise offices in jurisdictions with no travel restrictions,” said FTX spokesperson Natalie Tian to the publication.

According to her, Bankman-Fried is currently in the United States, but he plans to travel to the Bahamas at the beginning of October.

“Who would have thought two years ago that an important factor in choosing where to live would be ‘the freedom to enter and exit the country’.” — wrote the CEO of FTX.

Who would have thought two years ago that a significant consideration for where to live would be «it’s actually legal to enter and leave the country».

— SBF (@SBF_FTX) September 24, 2021

The exchange’s verified Twitter account indirectly confirmed the move of the headquarters.

Running into other crypto exchanges at the beach when they realise how awesome @VisitTheBahamas
is https://t.co/zVMMUWu1Zo pic.twitter.com/qt9PnwSR8r

— FTX — Built By Traders, For Traders (@FTX_Official) September 24, 2021

“Meeting other cryptocurrency exchanges on the beach when they realised how cool the Bahamas are,” the statement said.

FTX representatives did not respond to ForkLog’s request.

Earlier, news emerged of another crackdown by China on the cryptocurrency industry. Against this backdrop, the Bitcoin price briefly fell below $42,000.

In August, Bankman-Fried said that he spends five hours a day on regulatory and licensing questions. He attributed the routine to heightened oversight of the industry.

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