Australian regulators suspend FTX Australia financial services license

ChainCatcher news, according to The Block, the Australian Securities and Investments Commission (ASIC) has suspended FTX Australia's financial services license, with the decision effective for six months, ending on May 15, 2023. ASIC stated in a statement that FTX Australia can continue to provide limited financial services related to the closure of existing derivative contracts until December 19, 2022. Additionally, FTX Australia creditors plan to hold a meeting on November 23.

It is reported that after FTX filed for bankruptcy, at least 30,000 people in Australia were affected. FTX Australia and its wholly-owned subsidiary FTX Express were established in March this year, obtaining an Australian financial services license by acquiring a local business named IFS Markets. (The Block)