{"id":509462,"date":"2022-11-13T05:44:00","date_gmt":"2022-11-13T02:44:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/regulator-denies-asking-ftx-to-prioritize-withdrawals-for-bahamian-clients\/"},"modified":"2022-11-13T05:44:00","modified_gmt":"2022-11-13T02:44:00","slug":"regulator-denies-asking-ftx-to-prioritize-withdrawals-for-bahamian-clients","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/regulator-denies-asking-ftx-to-prioritize-withdrawals-for-bahamian-clients\/","title":{"rendered":"# Regulator denies asking FTX to prioritize withdrawals for Bahamian clients"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35ff709393e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35ff709393e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/regulator-denies-asking-ftx-to-prioritize-withdrawals-for-bahamian-clients\/#%E2%80%9D_Regulator_denies_asking_FTX_to_prioritize_withdrawals_for_Bahamian_clients_%E2%80%9C\" >&#8221; Regulator denies asking FTX to prioritize withdrawals for Bahamian clients &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Regulator_denies_asking_FTX_to_prioritize_withdrawals_for_Bahamian_clients_%E2%80%9C\"><\/span>&#8221; Regulator denies asking FTX to prioritize withdrawals for Bahamian clients &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYTYyYTY0MzAtNjg0Ny00YTVhLTg5ODEtY2RhYmMyYWFmNTZjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-e13e51fa>The Securities Commission of The Bahamas (SCB) has denied instructing or authorizing crypto exchange FTX to prioritize withdrawals of Bahamian clients.\u00a0<\/p>\n<p>In a statement on Nov. 12, the securities commission vehemently denied the contents of a Nov. 11<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ftx_official\/status\/1590783569471115264\">\u00a0statement<\/a> from FTX on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> that suggested it had been instructed by \u201cBahamian HQ\u2019s regulation and regulators\u201d to facilitate the withdrawal of Bahamian funds. <\/p>\n<p>\u201cThe Commission wishes to advise that it has not directed, authorized or suggested to FTX Digital Markets, Ltd. the prioritization of withdrawals for Bahamian clients,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.scb.gov.bs\/wp-content\/uploads\/2022\/11\/Securities-Commission-on-FTX-Bahamian-Withdrawals-111222.pdf\">read <\/a>the statement, which was shared on the SCB&#8217;s Twitter page.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Securities Commission Addresses FTX Statement on Bahamian Withdrawals <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/OZKWwicSuN\">pic.twitter.com\/OZKWwicSuN<\/a><\/p>\n<p>\u2014 Securities Commission of The Bahamas (@SCBgov_bs) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SCBgov_bs\/status\/1591577646005379074?ref_src=twsrc%5Etfw\">November 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Since FTX paused withdrawals on Nov. 9, the crypto exchange&#8217;s customers have been attempting to find means to withdraw their locked funds, with much of the activity going through the Bahamas.<\/p>\n<p>Strategies have ranged from buying non-fungible tokens (NFTs) on Bahamas-based accounts to offering FTX employees bounties to change their country of residence to The Bahamas.<\/p>\n<p><strong><em>Related:\u00a0Sam Bankman-Fried is \u2018under supervision\u2019 in Bahamas, looking to flee to Dubai<\/em><\/strong><\/p>\n<p>However, the SCB has warned that any withdrawal of funds could be clawed back as part of the firm&#8217;s potential liquidation proceedings.<\/p>\n<p>\u201cThe Commission further notes that such transactions may be characterized as voidable preferences under the insolvency regime and consequently result in clawing back funds from Bahamian customers,\u201d it noted, adding:\u00a0<\/p>\n<blockquote><p>\u201cIn any event, the Commission does not condone the preferential treatment of any investor or client of FTX Digital Markets Ltd. or otherwise.\u201d<\/p><\/blockquote>\n<p>The latest statement from the SCB comes only days after the securities regulator froze FTX&#8217;s assets on Nov. 10 and suspended FTX&#8217;s registration in the country.\u00a0<\/p>\n<p>The SCB has also s<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>ped the powers from the directors of the FTX and said it determined the \u201cprudent course of action\u201d was to put FTX into a provisional liquidation \u201cto preserve assets and stabilize the company.\u201d<\/p>\n<p>According to the statement, the Bahamian Supreme Court <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed a provisional liquidator and said, \u201cno assets of FDM, client assets, or trust assets held by FDM can be transferred, assigned, or otherwise dealt with, without the written approval of the provisional liquidator.\u201d<\/p>\n<p><em>Cointelegraph has reached out to FTX for comment but has not received an immediate response.\u00a0<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/regulator-denies-asking-ftx-to-prioritize-withdrawals-for-bahamian-clients\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Regulator denies asking FTX to prioritize withdrawals for Bahamian clients &#8220; The Securities Commission of The Bahamas (SCB) has denied instructing or authorizing crypto exchange FTX to prioritize withdrawals of Bahamian clients.\u00a0 In a statement on Nov. 12, the securities commission vehemently denied the contents of a Nov. 11\u00a0statement from FTX on Twitter that&#8230;<\/p>\n","protected":false},"author":1,"featured_media":509463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYTYyYTY0MzAtNjg0Ny00YTVhLTg5ODEtY2RhYmMyYWFmNTZjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[135234,70934],"class_list":["post-509462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ftx","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=509462"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/509462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/509463"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=509462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=509462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=509462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}