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FTX relocates its headquarters to the Bahamas
Cryptocurrency exchange FTX has announced that it has moved its headquarters from Hong Kong. This latest development is due to the tight regulatory measures currently put in place by the government, making it tougher for crypto exchanges to operate in Hong Kong.FTX is now moving its headquarters to the Bahamas, which has a more favorable cryptocurrency regulation. The news was shared by leading Chinese crypto reporter Wu Blockchain.
FTX has already recieved a license to operate in the Bahamas
FTX has already received a license to operate in the Bahamas. The exchange said "FTX.COM, today announced that its Bahamian subsidiary, FTX Digital Markets, has been registered by the Securities Commission of the Bahamas as a digital assets business under the Digital Asset Registered Exchanges Bill or the "DARE Act." The modernized DARE Act, which establishes a full regulatory framework for digital asset activities, provides greater opportunities for digital asset businesses and will allow FTX to expand its platform in a compliant manner.FTX has become one of the leading cryptocurrency exchanges in the world in recent years. Its valuation has grown from $2.5 billion last year to currently stand at $18 billion.
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