The Australian Securities and Investments Commission has suspended the Australian financial services licence of FTX Australia Pty Ltd, the regulator announced on Wednesday. The license is suspended until 15 May 2023.
According to the official announcement, the crypto company’s Australian arm can continue to provide limited financial services which are related to termination of existing derivatives with clients until 19 December 2022
On 11 November 2022, the company was placed into voluntary administration. FTX Australia and its subsidiary FTX Express Pty Ltd, not regulator by ASIC, were appointed administrators John Mouawad, Scott Langdon and Rahul Goyal of KordaMentha .
Furthermore, FTX Trading Limited, West Realm Shires Services Inc (trading as FTX US) and other affiliates filed for Chapter 11 bankruptcy protection in the US last week.
