FTX Exchange creates subsidiaries in Gibraltar and the Bahamas!

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2 years ago
Topics: News, Crypto

FTX exchange has established two branches and expanded its exchange. Located in southern Iberian Peninsula, a branch office is established in the Bahamas, located between Gibraltar, the United States and Cuba.

As a holding company of Exchange FTX.com, FTX Trading Limited, owned the FTX Exchange and has the operating rights of the Exchange said that it has been registered as a digital asset business company under approval of the Securities Commission of the Bahamas in Bahamas.

The founder and CEO of the FTX Exchange, Sam Bankman-Fried, is referred to as 'regulation', which is the main core view of the recent company expansion. There are now many SCAMs, such as the crypto industry, and this part is strongly pressed by regulations. However, this pressure is not necessary to extend the pressure to war with the regulatory authority.

Gibraltar and Bahamas are a much smaller area compared to the United States. However, in the area, FTX will be able to adhere to regulations, as a factory that complies with regulations.

FTX has funded $900m in July, and Sam Bankman-Fried said this investment would be mainly used for acquisitions. The valuation of this exchange has already been estimated to $18b.

The price decline in virtualization lungs, or a large number of low quality projects, such as SCAM, legitimate and reliable protocol, are still continuing to be daily, but on one side, there is a continuous expansion, development and legalization and regulation is continuing.

reference : https://coinjournal.net/news/ftx-subsidiaries-in-the-bahamas-and-gibraltar-get-licences-from-regulators/

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