{"id":70148,"date":"2022-11-16T12:50:30","date_gmt":"2022-11-16T10:50:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70148"},"modified":"2025-09-08T00:22:48","modified_gmt":"2025-09-07T21:22:48","slug":"australian-regulator-suspends-license-of-local-ftx-unit","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/australian-regulator-suspends-license-of-local-ftx-unit\/","title":{"rendered":"Australian regulator suspends license of local FTX unit"},"content":{"rendered":"<p>The Australian Securities and Investments Commission (ASIC) has suspended the financial-services licence issued to the local subsidiary of the FTX bitcoin exchange. This, according to a <a href=\"https:\/\/asic.gov.au\/about-asic\/news-centre\/find-a-media-release\/2022-releases\/22-316mr-asic-suspends-ftx-australias-afs-licence\/\">press release<\/a>.<\/p>\n<p>The restrictions remain in effect until 15 May 2023. However, ASIC allowed FTX Australia to provide \u201crestricted financial services\u201d until 19 December 2022.<\/p>\n<p>The regulator added that John Muawad, Scott Langdon and Rahul Goyal of KordaMentha have been appointed voluntary administrators of FTX Australia and its \u201cdaughter\u201d FTX Express Pty Ltd.<\/p>\n<p>In March, the company of Sam Bankman-Fried <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-opens-australian-subsidiary\">announced the opening of a division<\/a> in Australia and obtained a licence to provide financial services. The platform offered users a full range of exchange-traded and over-the-counter products, as well as derivatives.<\/p>\n<p>On 11 November, the FTX Group <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">filed for bankruptcy<\/a> under Chapter 11 of the US Bankruptcy Code. Bankman-Fried stepped down as CEO.<\/p>\n<p>Court filings indicate that the operator of the bitcoin exchange <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-reports-more-than-one-million-creditors\">has more than one million creditors<\/a>. Bloomberg <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-says-customer-recovery-of-ftx-funds-unlikely\">said that a return of funds to customers was unlikely<\/a>.<\/p>\n<p>Earlier, the Bahamas Securities Commission <a href=\"https:\/\/u1f987.com\/en\/news\/bahamas-regulator-freezes-ftx-assets\">blocked the assets of FTX Digital Markets<\/a> and affiliated entities, and suspended the company\u2019s licence in the jurisdiction.<\/p>\n<p>Cypriot authorities <a href=\"https:\/\/u1f987.com\/en\/news\/cyprus-regulator-suspends-ftx-license\">took similar steps<\/a> against FTX Europe.<\/p>\n<p>On 15 November, the Supreme Court of the Bahamas granted the regulator\u2019s petition <a href=\"https:\/\/u1f987.com\/en\/news\/bahamas-court-approves-temporary-liquidators-for-ftx-digital-markets\">to appoint temporary liquidators<\/a> of FTX Digital Markets.<\/p>\n<p>Follow ForkLog\u2019s bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 for cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Securities and Investments Commission (ASIC) has suspended the financial-services licence issued to the local subsidiary of the FTX bitcoin exchange, according to a press release.<\/p>\n","protected":false},"author":1,"featured_media":70149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,1236],"class_list":["post-70148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70148"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70148\/revisions"}],"predecessor-version":[{"id":70150,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70148\/revisions\/70150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70149"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}