In a press release on Nov. 12, the Securities Commission of The Bahamas (SCB) contradicted the statement published by FTX about resuming withdrawals in The Bahamas.
Комисија за хартије од вредности адресира ФТКС изјаву о повлачењу са Бахама пиц.твиттер.цом/ОЗКВвицСуН
— Комисија за хартије од вредности Бахама (@СЦБгов_бс) Новембар 12, 2022
On Nov. 11, the former head of institutional sales at FTX, Zane Tackett, announced on Twitter that the exchange would allow withdrawals for Bahamanian clients. In the statement, Tackett said that the withdrawals were enabled in compliance with regulators.
1) Према уредби и регулаторима нашег бахамског штаба, почели смо да олакшавамо повлачење средстава са Бахама. Као такви, можда сте видели неке повлачења које обрађује ФТКС недавно пошто смо се придржавали регулаторних прописа.
— Зане Тацкетт (@тацкеттзане) Новембар 10, 2022
This led to a large number of FTX users trying to funnel funds through the help of Bahamians. Some even offered bribes to FTX employees to change their country to The Bahamas and help withdraw funds.
However, the SCB said that the regulator neither “directed, authorized, or suggested” FTX to prioritize local withdrawals.
In fact, the SCB press release stated:
“The Committee further notes that such transactions may be characterized as voidable preferences under the insolvency regime and consequently result in clawing back funds from Bahamian customers.”
In other words, the regulator made it clear that the withdrawals processed by FTX for Bahamian clients may be considered void and, therefore, reversed. The regulator firmly added that it does not “condone” the preferential treatment of any FTX customers.
Source: https://cryptoslate.com/bahamas-securities-commission-neither-authorized-nor-condones-ftx-enabling-local-withdrawals/