Bahamas Attorney General Ryan Pinder said the state will not allow a blank spot in the FTX collapse as the reputation of the islands is at stake.
According to Ryan Pinder, the Bahamas Securities Commission (BSC) understands that the default of the FTX cryptocurrency exchange has hurt clients from all over the world. He also said that Alameda Research does not fall under the regulatory jurisdiction of the Bahamas, however, if it is found that the company has committed any violations in this state, regulators will begin an investigation into its activities.
“Now we are at an early stage of the case – the investigation is complex, but active, and we do not plan to slow down. BSC will continue to look into the facts and circumstances that led FTX to default, as well as which Bahamas laws were violated,” Pinder said.
The main message that Pinder was trying to convey was to prevent accusations towards the Bahamas that the BSC was slow, or to blame the state for what happened, because the headquarters of FTX is located on the islands. This is in no way relevant, Pinder said, and BSC will work just as it would with any other company.
Arkham Intelligence previously reported that prior to filing for bankruptcy, Alameda Research withdrew cryptocurrencies from eight FTX wallets worth more than $200 million.
Source: Bits
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