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Antigua & Barbuda to Assist in FTX Investigation

NASSAU, BAHAMAS – Antigua and Barbuda will be working with international agencies in their investigations into the collapse of FTX.

Published

2 years ago

December 3, 2022

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NASSAU, BAHAMAS – Antigua and Barbuda will be working with international agencies in their investigations into the collapse of the FTX Cryptocurrency Exchange.

The company is reportedly incorporated there, but was not granted a license to operate.

Information Minister Melford Nicholas confirming the development in a post-cabinet media briefing this week as government met with the solicitor and deputy solicitor general, a crown counsel and head of the Financial Services Regulatory Commission.

Cabinet concluded in a statement that no liability is attached to the country. Nicholas added the FTX collapse is a learning experience for regulatory agencies globally, as the government remains transparent on the matter.

FTX was the third-largest cryptocurrency exchange when it collapsed last month, and filed for bankruptcy protection in the United States.

Bahamian regulators have seized the locally based digital assets. The Securities Commission transferred those assets to a wallet it controls to protect clients and creditors.