FTX Expands in Bahamas With Registered Subsidiary

The Nassau-headquartered unit has been registered by the Securities Commission of the Bahamas as a digital assets business.

Sep 20, 2021 at 4:15 p.m. UTC
Updated Sep 20, 2021 at 4:36 p.m. UTC

Tanzeel Akhtar is a reporter based in London,UK.

Crypto derivatives exchange FTX established a Bahamian subsidiary, FTX Digital Markets, that has been granted regulatory approval. It named Ryan Salame to lead the unit.

  • FTX Digital Markets will be headquartered in Nassau, Bahamas, and has been registered by the country’s Securities Commission as a digital assets business under the Digital Asset Registered Exchanges Bill, known as the DARE Act, the exchange said Monday.
  • Registration under the act will allow FTX to expand its platform in the region.
  • Salame was formerly the head of OTC at Alameda Research, which backs FTX.
  • “With this expansion through the DARE Act we are further committing to providing all our clients with a safe, trustworthy and compliant exchange,” FTX CEO Sam Bankman-Fried said in a statement.
  • Bankman-Fried said the exchange is committed to maintaining a close working relationship with local regulators to help promote the growth of crypto.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

Trending

1
CoinDesk - Unknown
Cardano’s Hoskinson: Luna Collapse Shows Need to Go Slow in Crypto

“If you move too quickly … everybody loses their money,” says Hoskinson, who will speak at Consensus 2022 next month.

“If you move too quickly … everybody loses their money,” says Hoskinson, who will speak at Consensus 2022 next month.

CoinDesk - Unknown
2
CoinDesk - Unknown
One River’s Carbon Neutral Bitcoin ETF Rejected by SEC

It's the latest in the agency's string of rejections of spot Bitcoin ETF applications.

It's the latest in the agency's string of rejections of spot Bitcoin ETF applications.

CoinDesk - Unknown
3
CoinDesk - Unknown
A Second Chance: New Terra Blockchain to Launch Saturday, UST Now Live on Polygon

The most valuable crypto stories for Friday, May 27, 2022.

The most valuable crypto stories for Friday, May 27, 2022.

CoinDesk - Unknown
4
CoinDesk - Unknown
Bitcoin Faces Resistance at $33K; Support at $22K-$25K

Volatility could rise, especially if another price breakdown occurs.

Volatility could rise, especially if another price breakdown occurs.

CoinDesk - Unknown