Australian regulator was investigating FTX, wrote memo the day of bankruptcy Cryptocurrencies
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On Mar. 30, ASIC conducted a phone meeting with the exchange in which FTX representatives emphasized the 31 financial services licenses they already had and claimed to be “well known for efforts with positive talks with regulators.” Approximately 30,000 Australians are owed fiat or cryptocurrency by FTX, with some customers losing as much as AUD $1 million.
Jones said the previous government “sat on its hands” when it came to keeping pace with changes in the market, especially as it relates to new digital products and services, and this would be a key goal of Prime Minister Albanese’s government moving forward. Jones said the government is focused on crypto assets that act like financial products but remain unregulated, and that the collapse of FTX “puts beyond doubt” the need for crypto regulation in the country.
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