Australian securities supervisory authority deprives FTX Australia after collapsing the US cryptocurrency exchange FTX

Von Krypto News Österreich

Die australische Wertpapieraufsichtsbehörde hat offiziell bekannt gegeben, dass sie die Lizenz von FTX Australia, der australischen Niederlassung der zusammengebrochenen US-Kryptowährungsbörse FTX, widerrufen hat. Diese Maßnahme trat am 14. Juli in Kraft. FTX war zuvor eine der größten Kryptowährungsbörsen der Welt und hatte im Januar 2023 einen Wert von 32 Milliarden US-Dollar erreicht. Im November desselben Jahres beantragte das Unternehmen allerdings Gläubigerschutz nach dem US-Insolvenzrecht. Der Grund für den Antrag war die Unfähigkeit von FTX, seinen Kunden den vollen Betrag ihrer auf der Plattform eingezahlten Gelder zurückzuerstatten. Diese Probleme blieben auch der australischen Wertpapieraufsichtsbehörde nicht verborgen, weshalb diese im November letzten …
The Australian security supervisory authority has officially announced that it has revoked the license from FTX Australia, the Australian branch of the collapsed US cryptocurrency exchange FTX. This measure came into force on July 14th. FTX was previously one of the world's largest cryptocurrency exchanges and had achieved a value of $ 32 billion in January 2023. In November of the same year, however, the company applied for creditor protection under US bankruptcy law. The reason for the application was FTX's inability to reimburse its customers the full amount of their funds paid on the platform. The Australian securities supervisory authority also did not hide these problems, which is why they last in November ... (Symbolbild/KNAT)

The Australian security supervisory authority has officially announced that it has revoked the license from FTX Australia, the Australian branch of the collapsed US cryptocurrency exchange FTX. This measure came into force on July 14th.

ftx was previously one of the largest cryptocurrency exchanges in the world and had achieved a value of $ 32 billion in January 2023. In November of the same year, however, the company applied for creditor protection under US bankruptcy law. The reason for the application was FTX's inability to reimburse its customers the full amount of their funds paid on the platform.

These problems were not hidden from the Australian security supervisory authority, which is why they temporarily suspended FTX Australia's license in November last year. This suspension concerned in particular the ability of FTX to conclude derivative and foreign exchange contracts with both private and wholesale customers. The suspension was initially lifted until May, but now the license has been finally revoked.

but (intermediate text)

by July 12, 2024, FTX Australia may continue to offer limited financial services, but only for the purpose of termination of existing derivatives with customers. However, this provision does not affect FTX Australia's obligation to maintain its membership in the Australian Financial Complaints Authority or to provide compensation agreements for private customers.

The decision of the Australian security supervisory authority to revoke FTX Australia's license is another setback for the company. This step clearly shows that the supervisory authorities keep an eye on the cryptocurrency market and act against violations and misconduct to protect investors' interests.

It remains to be seen how this development will affect the cryptocurrency market in Australia and whether similar measures are taken in other countries. In any case, this decision illustrates the need for stricter regulation and supervision in the cryptocurrency area to strengthen the trust of investors and prevent possible financial losses.