The Securities Commission of The Bahamas (SCB) announced it ordered the transfer of the digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission for “safekeeping.”
It’s puzzling why the SCB announced this order five days after placing it. SCB only stated that “urgent interim regulatory action was necessary to protect the interests of clients and creditors of FDM.”
The SCB announcement gave no indication of the amount of FDM’s digital assets that were transferred as a result of their order or the exact timing of these transfers.
A few days back, the Bahamas Securities Commission froze the assets of FTX Digital Markets “and related parties” to preserve assets and stabilize the company.
Also Read: Bahamas Supreme Court Approves Provisional Liquidators for FTX
