The Australian Securities & Investments Commission (ASIC) suspended the FTX Australia license until May 15, 2023, following the exchange’s recent fiasco.
The crash has affected around 30,000 Aussie consumers who are exploring how to retrieve their funds.
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Despite the termination of its license, FTX’s Australian subsidiary will be able to provide limited services to local customers until December 19, 2022.
The ASIC reminded that the crypto exchange had permission to “provide general advice relating to derivatives and foreign exchange contracts to retail and wholesale clients.” The meltdown of FTX, though, changed the trends, and the regulator had to take severe measures to protect domestic users.
“ASIC is monitoring this situation closely and speaking regularly with international regulators and the external administrators. ASIC encourages clients of FTX Australia to carefully monitor the situation and look out for updates by the FTX Group, as well a
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