Australian Watchdog Suspends License of FTX’s Local Affiliate
The Australian Securities and Investments Commission (ASIC) has just suspended the financial services license it had issued to the local division of FTX, according to the press release.
The restrictions are valid until May 15, 2023. However, the ASIC has allowed FTX Australia to provide “limited financial services” until December 19, 2022.
The regulator has added that John Mouawad, Scott Langdon and Rahul Goyal of KordaMentha have been appointed as volunteer administrators of FTX Australia and its subsidiary FTX Express Pty Ltd.
In March, Sam Bankman-Freed’s company announced the opening of a subsidiary in Australia and obtaining a license to provide financial services. The platform offered users a full range of exchange and OTC products, as well as derivatives.
