The Escape to Offshore: FTX Casino moved its head office from Hong Kong to the Bahamas

We don't spend much time on FTX casino, mostly our conflict with Binance (which is the reason of ScamBinance), we have no experience with FTX and our opinion is that it's better not to have such experience, because FTX casino is not much different from its counterpart Binance.

From time to time slip materials on FTX/Tether/USDT/Bitmex, they form an overall picture of what is happening in the crypto sandbox, all the mayhem, all the Wild West and all the mess in the unregulated field of speculation, manipulation and outright fraud:

- Massive fraud by financial regulators: BitMEX.com and Bybit.com, Binance.com and FTX.com
- US derivatives traders continue to trade on Binance and FTX
- Binance, FTX, Tether criminal cartel
- Binance cartel and FTX once again ripped off users on futures
- Binance and FTX - serving U.S. citizens publicly using Barry Silbert as an example
- Opinion: FTX repurchased its share from Binance
- Binance delisted FTX credit tokens after significant user losses, and a month later added their clones

FTX: From Hong Kong to the Bahamas

FTX casino is unregulated, unlicensed (all like Binance), also running and jumping around the world to find a temporary haven for its criminal and criminal activities.

FTX officially announced the relocation of its headquarters from Hong Kong to the Bahamas. It writes Bloomberg, citing a representative of the exchange. Earlier this week, FTX announced that its new Bahamian unit, FTX Digital Markets, had received regulatory approval as a digital asset company:

"We intend to maintain a close working relationship with local regulators for the sake of cryptocurrency development," the company said. - We are happy to participate in the process of launching comprehensive cryptocurrency regulatory regimes in various jurisdictions. In addition, we have a preference for jurisdictions with no restrictions on movement."

The verified account of FTX exchanges on Twitter indirectly confirmed the report of the headquarters relocation:

"Meeting other cryptocurrency exchanges on the beach as they realized how cool the Bahamas is," the report stated.

It was previously reported that FTX Digital Markets itself is headquartered in Nassau.

"Through expansion through the Digital Asset Exchange Registration Act, we will continue to be a safe, trustworthy and law-compliant trading platform for customers," FTX CEO Sam Bankman-Fried said.

The company said he is currently in the U.S. and plans to visit the Bahamas in early October, and will move between offices thereafter. Many major crypto exchanges are based in Hong Kong, including Bitfinex and BitMEX. Local authorities have recently gone to tighten regulation of the crypto industry, which may encourage other companies to follow FTX's runaway example.

FTX launched a regulated platform in the Bahamas

A subsidiary of cryptocurrency exchange FTX has registered with the Bahamas Securities Commission as a digital asset business. According to a statement, FTX Digital Markets is the first in the jurisdiction to be licensed under the Registered Digital Asset Exchanges Act (DARE Act):

"With this expansion through the DARE Act, we are committed to providing our customers with a safe, reliable and compliant exchange," said FTX founder and CEO Sam Bankman-Fried.

According to him, the company is committed to maintaining a working relationship with regulators to "navigate together to create a comprehensive regulatory framework" for the new asset class.

28.09.21

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