The Bahamas Securities Commission has taken control of FTX Digital Markets Ltd assets to address the concerns of creditors, customers, and stakeholders.

The Securities Commission of The Bahamas has issued a statement regarding the control of FTX's Bahamas subsidiary, FTX Digital Markets Ltd. The statement declares that the Securities Commission of The Bahamas, authorized by an order of the Supreme Court of The Bahamas, has exercised regulatory powers to guide the transfer of all digital assets of FTX Digital Markets Ltd. to a digital wallet controlled by the Commission for custody of the digital assets.

The Securities Commission of The Bahamas has issued a statement regarding the control of FTX's Bahamian subsidiary, FTX Digital Markets Ltd. The statement mentions that the Securities Commission, under the authority of an order from the Supreme Court of The Bahamas, has taken action to transfer all digital assets of FTX Digital Markets Ltd. to a digital wallet controlled by the Commission for custody. The statement further explains that under the 2020 Digital Assets and Registered Exchanges Act, the Commission has the power to seek judicial orders to protect the interests of clients or customers of Commission-registered persons under the Act. In the coming days and weeks, the Commission will engage with other regulatory authorities and agencies in different jurisdictions to address issues affecting creditors, clients, and stakeholders of FTX Digital Markets Ltd. globally. This article is authorized to be reposted from Foresight News, a Chinese content platform in the Web3 vertical domain, dedicated to providing a "objective and neutral" approach and striving to be the Chinese gateway to the Web3 world.