In a press launch on Nov. 12, the Securities Fee of The Bahamas (SCB) contradicted the assertion revealed by FTX about resuming withdrawals in The Bahamas.Securities Fee Addresses FTX Assertion on Bahamian Withdrawals pic.twitter.com/OZKWwicSuN— Securities Fee of The Bahamas (@SCBgov_bs) November 12, 2022On Nov. 11, the previous head of institutional gross sales at FTX, Zane Tackett, introduced on Twitter that the alternate would permit withdrawals for Bahamanian shoppers. Within the assertion, Tackett mentioned that the withdrawals have been enabled in compliance with regulators.1) Per our Bahamian HQ’s regulation and regulators, we now have begun to facilitate withdrawals of Bahamian funds. As such, you will have seen some withdrawals processed by FTX just lately as we complied with the regulators.— Zane Tackett (@tackettzane) November 10, 2022This led to numerous FTX customers attempting to funnel funds by way of the assistance of Bahamians. Some even provided bribes to FTX staff to alter their nation to The Bahamas and assist withdraw funds.Nevertheless, the SCB mentioned that the regulator neither “directed, approved, or urged” FTX to prioritize native withdrawals.Actually, the SCB press launch said:“The Committee additional notes that such transactions could also be characterised as voidable preferences below the insolvency regime and consequently lead to clawing again funds from Bahamian clients.”In different phrases, the regulator made it clear that the withdrawals processed by FTX for Bahamian shoppers could also be thought of void and, due to this fact, reversed. The regulator firmly added that it doesn’t “condone” the preferential therapy of any FTX clients.Get an Edge on the Crypto Market 👇Turn into a member of CryptoSlate Edge and entry our unique Discord neighborhood, extra unique content material and evaluation. On-chain evaluation Value snapshots Extra context Be a part of now for $19/month Discover all advantages



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