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With the bankruptcy of FTX, legal action against this exchange started all over the world

FTX, a major cryptocurrency exchange, after several days of crisis, finally declared bankruptcy last night Tehran time and its CEO resigned. as Reuters He writes, regulatory bodies around the world have started taking action against the parent company and FTX subsidiaries.

In America, the Securities and Exchange Commission, the Ministry of Justice and the Commodity Futures Trading Commission have started their investigations. FTX Trading Group is headquartered in the Bahamas, and the country’s Securities and Exchange Commission has said in a statement that it will freeze the assets of FTX Digital Markets (the Bahamian-focused subsidiary of FTX). The Bahamas also temporarily designates an individual as liquidator has chosen for this business unit.

On November 9, the Cyprus Securities and Exchange Commission requested FTX EU (a subsidiary of FTX in the European Union) to suspend all its activities. FTX said a few months ago that it can operate as an official investment company in Cyprus by obtaining the necessary permits. This license allowed the FTX EU business unit to serve the European Economic Area.

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FTX tweeted on Thursday that the exchange’s business unit in Japan will be closed. A few days before, Japan’s Financial Services Agency had banned the creation of new accounts and trading in FTX. The FTX subsidiary in Japan continued to process user withdrawal requests until yesterday.

FTX was one of the largest cryptocurrency exchanges in the world and had a relatively good business relationship with Binance. Following the revelations of a media, Binance sold all FTT tokens and the price of this token fell sharply. FTT’s downward trend continued as panic injected into the cryptocurrency market, investors abandoned the FTX exchange and users pulled out their funds. Within just a week, FTX was in crisis and declared bankruptcy.


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