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FTX denied request to mint new crypto tokens by Bahamas regulator

FTX US denied authorization to create new tokens

The Securities Commission of The Bahamas (SCB) has issued a statement denying claims made by the representative of US-based crypto exchange FTX and its debtors, who had alleged that the SCB had instructed FTX to “mint a substantial amount of new tokens.”

The SCB also denied the FTX debtors’ claims that digital assets controlled by the SCB on behalf of FTX customers and creditors had been “stolen,” and expressed concern that the investigation into FTX’s activities had been “impeded.”

The SCB called on the FTX debtors to proceed with matters in good faith and in the best interests of FTX’s customers and creditors.

Furthermore, the statement follows earlier reports in December 2022 that the Bahamas government had requested that FTX’s former CEO, Sam Bankman-Fried, issue a new cryptocurrency controlled by local officials.

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Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.