Skip to main content

FTX License Cancelled by Australia Securities Regulator Effective From July 14

Australia's securities regulator said on Wednesday it had cancelled the license of the local arm of collapsed U.S. cryptocurrency exchange FTX, effective from July 14.

Bahamas-headquartered FTX, once a star of the crypto industry with a $32 billion (roughly Rs. 2,62,700 crore) valuation in January 2023, filed for U.S. bankruptcy protection last November, saying it was unable to completely repay customers who had deposited funds on its exchange.

The industry has since been reeling amid the scrutiny of global regulators, while FTX founder Sam Bankman-Fried faces a criminal lawsuit by the U.S. government for alleged fraud. He denies the allegations and has pleaded not guilty.

The Australian Securities & Investments Commission (ASIC) had last November suspended the license until May, taking back FTX's permit to deal in derivative and foreign exchange contracts to retail and wholesale clients.

FTX Australia can continue to provide limited financial services for terminating existing derivatives with clients until July 12, 2024, the regulator said on Wednesday.

The license cancellation has no effect on requirements for FTX Australia to continue as a member of Australian Financial Complaints Authority, and to have arrangements for compensating retail clients, it added.

FTX did not immediately respond to a Reuters request for comment.

© Thomson Reuters 2023

Will the Nothing Phone 2 serve as the successor to the Phone 1, or will the two co-exist? We discuss the company's recently launched handset and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.


from Gadgets 360 https://ift.tt/uA05gCb
Labels:

Comments

Post a Comment

Popular posts from this blog

The 53 Most Anticipated Movies of 2023

What are the biggest movies of 2023? From Hollywood, we are expecting nine DC and Marvel superhero movies. (After a long time, DC has more titles on the calendar than Marvel Studios). A new Ant-Man, Aquaman, Flash, Shazam, Captain Marvel, Spider-Verse, and Guardians of the Galaxy film is on the docket for 2023 — Jason Momoa, Brie Larson, Chris Pratt, and Paul Rudd jump into spandex again — along with the first Kraven and Blue Beetle movies. Speaking of firsts, Mario, Gran Turismo, and Dungeons & Dragons are looking to launch new franchises in 2023, with the help of Pratt, Chris Pine, and David Harbour. We even have a live-action Barbie movie, with Margot Robbie, on the way. Beyond that, we have a second Dune entry with Timothée Chalamet and Zendaya, a third entry in the Rocky spin-off Creed with Michael B. Jordan, the fourth John Wick film with Keanu Reeves, a fifth Indiana Jones movie with Harrison Ford, a seventh Transformers and Tom Cruise-led Mission: Impossible, and the tenth...
Post a Comment
Read more

Itel P55 With Dual Rear Cameras, 5,000mAh Battery Launched in India: Price, Specifications

Itel P55 5G was launched in India on Tuesday and it claims to be the cheapest 5G smartphone in the country. The phone is powered by an octa-core Dimensity chipset and supports wired fast charging. It carries an AI-powered dual rear camera unit and is offered in a single storage variant along with two colour options. Itel India also introduced the Itel S23+ alongside, and is a budget smartphone with a curved AMOLED display. The company is extending a two-year warranty on the handsets and is also offering free screen replacement within 100 days of purchase. Itel P55 5G price in India, availability Offered in Blue and Green colour options, the singular 8GB + 128GB variant of the Itel P55 5G is priced at Rs. 9,999. The phone will be available for purchase via Amazon India starting October 4. Itel P55 5G specifications, features Sporting a 6.6-inch HD+ (1600 x 700 pixels) display, the dual nano SIM-supported Itel P55 comes with a refresh rate of 90Hz. The phone is powered by an octa-co...
Post a Comment
Read more