FTX, one of the world’s largest exchange with cryptocurrencies, continues to expand its business. In the lucrative Bahamas, fundamental regulatory measures have been adopted to enable companies on the island to function properly.
The Securities and Exchange Commission in the Bahamas has registered “FTX Digital Markets”, a new global subsidiary crypto exchange, as an official company with digital assets, announced company on September 20.
Crypto exchange regulatory approval
Regulatory approval has been granted under the Bahamas Digital Asset Registration Act as well as new legislation related to digital assets in the country, which entered into force at the end of 2020. Legislation, also known as the law DARE, creates a comprehensive regulatory framework for digital asset operations in the Bahamas, regulating and supervising virtual asset service providers.
Gradual regulatory approvals in various countries will significantly help FTX build a reputation not only in the Bahamas but also in other countries around the world. The stock exchange is actively continuing to expand its global popularity.
The bright future of FTX
Ryan Salame has become the new CEO of FTX Digital Markets and will now be responsible for the operation of the crypto exchange in Bahamas.
“The relationship we have established with local regulators has been successfully completed by obtaining permission under the law framework. DARE. This gives me confidence that we will be able to work closely with regulators ’, said R. Salame.
We remind you that FTX is one of the largest and most popular crypto exchange in the world. Currently, there is 24 hours trading volume $ 3.5 billion. The company is actively expanding its operations and gaining spectacular cooperation. At the end of August this year, the company announced cooperation with LedgerX. He also recently partnered with NBA basketball star Stephen Curry.