In an interview with The Tribune yesterday, Mr Aubry said the imploding circumstances surrounding FTX highlighted the importance of being mindful of companies that come into the country to conduct business. The Securities Commission last week said the Supreme Court had approved Brian Simms, KC, as joint provisional liquidator with powers to take control of the crypto exchange’s Bahamian company and affiliate entities.
He was contacted by The Tribune for comment after the collapse of FTX resulted in local regulators taking quick action last week to protect clients of The Bahamas’ flagship crypto currency investor by “freezing” its assets, and seizing control of the company, amid reports it acquired $74m in local real estate this year alone.
But from what we do know there is an opportunity for us to ensure that going forward, there is greater transparency,” Organization for Responsible Governance Executive Director Matt Aubry said yesterday. “We’re still learning about what’s going on with FTX and still learning about the circumstances. By JADE collapse of FTX could be used as a crucial learning lesson moving forward, a governance reformer said yesterday.
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