News
The liquidators said they would “commence disposals” of certain FTX Digital physical assets following approval from the Bahamas’ supreme court.
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Caribbean News
The Caribbean is a region consisting of group of islands and the surrounding coasts in the Caribbean Sea. The Caribbean has a mixed developing economy. depending mainly on agriculture, tourism and natural resources. The first appearance of Bitcoin in the Caribbean was in 2015, when the first Caribbean Bitcoin exchange was founded in order to provide Caribbean citizens easy access to digital assets. This was supposed to solve some of the economic problems of the region due to the service’s law fees for transactions, ability for low cost money transfers and its effective way to keep the value of money. Bitcoin in the Caribbean is the new way to transform the Caribbean’s economy by providing such services where traditional banking is limited.
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The crypto lender claimed that the Cayman Islands Monetary Authority had placed “too much weight” on regulators’ enforcement actions in its decision to deny registration.
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According to lawyers representing FTX’s provisional liquidators, allegations that Bahamian officials were giving residents preferential treatment were “wholly without merit.”
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Bahamian Commissioner of Correctional Services Doan Cleare reportedly said that most of the facilities had been renovated since 2021 and now had no “issues with rodents."
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Dominica has launched a digital identity program and national token in partnership with Huobi.
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Bahamian Securities Commission, the Prime Minister’s financial intelligence unit and a financial crimes unit are all involved in the FTX investigation.
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The Securities Commission of The Bahamas said the continued hacking attempts on FTX prove it made the right call to “secure” FTX’s digital assets.
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The provisional liquidator overseeing the FTX Digital Markets bankruptcy proceedings says FTX wasn’t authorized to file for bankruptcy in the U.S without his approval.
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The Securities Commission of the Bahamas said it had to act “given the magnitude, urgency, and international implications of the unfolding events with regard to FTX.”
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The country’s prime minister says it is considering introducing Bitcoin Cash on a legal basis, despite being within the territory of the pioneering CBDC DCash.
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The company may relocate up to 200 employees from Seychelles to one of the Caribbean jurisdictions.
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Mushegian was an important figure in the crypto community, contributing to multiple projects, including MakerDAO, BitShares and Balancer.
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In addition to recommending the financial education of the public in the Bahamas, the IMF hinted at the importance of a “robust supervisory and regulatory framework” for digital assets.
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“We have a vision to transform The Bahamas into the leading digital assets hub in the Caribbean,” said Philip Davis, prime minister of the Bahamas.
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How a small-scale Bitcoin education project involving a former brewery collided with plans for Bitcoin as de facto legal tender.
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