In a way to show it has learnt from the collapse of FTX Derivatives Exchange, the Securities Commission of the Bahamas (SCB) has introduced a whole new set of rules that will strictly guide the activities of Virtual Assets Service Providers (VASPs) looking to do business on its shores.

In mid-November 2022, following the Chapter 11 bankruptcy filing by the exchange FTX and its large number of subsidiaries, The Bahamas’ regulator appointed Kevin Cambridge and Peter Greaves from PWC as the joint provisional FTX liquidators in the proceedings. PWC has recently published a report that shows the crypto exchange’s Bahamian entity FTX Digital Markets reportedly commingled client funds.

The Securities Commission of the Bahamas (SCB) has denied claims alleging that it asked FTX founder Sam Bankman-Fried (SBF) to mint new tokens before the exchange’s bankruptcy filing in November.

The Securities Commission of The Bahamas (SCB) has denied FTX debtors’ claims and expresses concern that the investigation has been ‘impeded.’

The Securities Commission of The Bahamas (SCB) released a statement on Monday to defend itself against the “material misstatements” made by the newly appointed FTX Chief Executive, John Ray, who is overseeing the bankruptcy proceedings of the collapsed cryptocurrency exchange.

Regulators in the Bahamas have disclosed that they currently hold $3.5 billion in FTX customer assets.

The Securities Commission of The Bahamas is firing back at collapsed crypto exchange FTX's accusations that the country had directed unauthorized access to transfer assets off the platform after it filed for bankruptcy protection in the U.S.

The Securities Commission of The Bahamas on Wednesday released a statement justifying its move to cease the customer assets of the local FTX entity, FTX Digital Markets Ltd (FDM). It came after several questions were raised against the action of the Bahamian regulator.

FTX is responsible for all costs associated with the digital wallet that holds FTX Digital Markets' assets and is being kept under the supervision of The Securities Commission of The Bahamas's (the Commission), the country's Supreme Court ruled on Monday.