• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Market Cap
  • Shop
What's Hot

Types, Use Cases and Why They Matter

2025-05-24

What’s the Real Difference for Beginners?

2025-05-24

What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

2025-05-23
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Financial Disclosure
Twitter Instagram YouTube
Crypto Semantic
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of January 28

    2025-02-03

    Op-Ed: The Artist and the Artificial Sublime

    2025-01-20

    Zora launches onchain NFT secondary markets with Uniswap

    2024-08-12

    NFT sales surge led by DMarket on Ethereum

    2024-08-12

    Top NFT Collections by Sales This Week: DMarket Surges Ahead

    2024-08-11
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Analyst Says Momentum Is Going To Switch to Ethereum, Predicts Capital Rotation to Altcoins

    2024-02-20

    Bitcoin Price Rally In Jeopardy? Decoding Key Hurdles To More Upsides

    2024-02-19

    Arweave’s AR token hits 18-month high amid rapid growth and innovation

    2024-02-19

    Largest Bitcoin Whales Gobble Up Nearly $13,000,000,000 Worth of BTC in 2024 Alone: Santiment

    2024-02-19

    NEAR Skyrockets 30% – Investors Intrigued By These Metrics

    2024-02-19
  • Learn

    Types, Use Cases and Why They Matter

    2025-05-24

    What’s the Real Difference for Beginners?

    2025-05-24

    What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

    2025-05-23

    What Is a DEX? How DEXs Work and Why They Matter

    2025-05-21

    What Is Blockchain? Blockchain Technology Explained for Beginners

    2025-05-21
  • Market Cap
  • Shop
Crypto Semantic
Home»Regulation»ASIC cancels FTX Australia’s license amid escalating crypto regulation
ASIC cancels FTX Australia’s license amid escalating crypto regulation
Regulation

ASIC cancels FTX Australia’s license amid escalating crypto regulation

2023-07-20No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Based on an announcement launched on July 19, the Australian Securities and Investments Fee (ASIC) canceled the Australian Monetary Companies (AFS) license held by FTX, a subsidiary working in Australia, on July 14.

The license cancelation doesn’t affect FTX Australia’s preparations to compensate its retail shoppers and its continued Australian Monetary Complaints Authority membership. The trade might additionally present restricted monetary providers for terminating current derivatives with shoppers earlier than July 12, 2024.

FTX Australia serviced 30,000 prospects

Earlier than its license cancellation, FTX Australia serviced round 30,000 prospects, making it one of many largest crypto platforms within the nation.

Eight months earlier than its collapse, in March 2022, ASIC had already begun elevating issues about FTX Australia’s operations. On the time, the regulator positioned the trade beneath “surveillance exercise” primarily based on issues that it side-stepped the scrutiny of issuing new licenses.

The regulator would later droop the trade’s AFS license when it entered into voluntary administration in November.

In the meantime, two entities are reportedly associated to the bankrupt trade in Australia, together with FTX Australia. The 2 companies maintain round $42 million in buyer funds.

Australia’s growing crypto regulation efforts

The license cancellation of FTX Australia varieties a part of the Australian authorities’s broader efforts to manage the crypto business more and more.

In April, the ASIC performed a compliance assessment of the monetary providers enterprise of Binance beneath native legal guidelines and reportedly searched the platform’s workplace earlier this month. Binance had abruptly cancelled its derivatives license with the regulator, citing compliance with native legal guidelines.

See also  California Governor Gavin Newsom Signs Bill To Create Regulatory Framework for Digital Assets

In the meantime, a number of Australian banks, together with Westpac, Nationwide Australian Financial institution (NAB), and others, have these days been proscribing funds to crypto exchanges as a part of efforts to scale back their buyer publicity to scams.

The banks described cryptocurrency scams as one of many fastest-growing safety threats within the nation.

The put up ASIC cancels FTX Australia’s license amid escalating crypto regulation appeared first on CryptoSlate.

Source link

ASIC Australias Cancels Crypto escalating FTX license regulation
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

What Is Circulating Supply in Crypto? A Beginner’s Guide to Token Supply

2025-05-23

A Beginner’s Guide to Crypto

2025-05-16

FBI reports $9.3 billion in US targeted crypto scams as elderly hit hardest

2025-04-24

Phishing scammers now exploiting Google’s infrastructure to target crypto users

2025-04-16
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Regulation

Markets Sink As SEC Sues Binance and Changpeng Zhao for Alleged ‘Blatant Disregard’ of Securities Laws

2023-06-05

The U.S. Securities and Trade Fee (SEC) has sued Binance, the most important crypto trade…

Analysis

Under-the-Radar Ethereum Gaming Altcoin Defies Crypto Market Slump and Surges 42% This Week

2023-08-19

An under-the-radar Ethereum (ETH) gaming altcoin has rallied towards the crypto market downtick, surging 42%…

DeFi

Backed Finance Expands Native Token Availability to Gnosis Chain

2023-06-07

DeFi Backed Finance, as per latest developments, has now introduced that it could be increasing…

Subscribe to Updates

Get the latest news and Update from Crypto Semantic about Crypto, Metaverse and NFT.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Twitter Instagram
Popular Post

Montenegro Primed To Ship Disgraced Terra (LUNA) Founder Do Kwon to US To Face Fraud Charges: Report

2023-12-08

NFT Market Sees Major Power Shift From OpenSea to BLUR

2023-12-04

To the moon? Why 2024 could be it for SHIB’s price prediction

2024-01-01

Get the latest news and Update from Crypto Semantic about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Financial Disclosure
© 2025 cryptosemantic.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • Kinza Babylon Staked BTCKinza Babylon Staked BTC(KBTC)$83,270.000.00%
  • Vested XORVested XOR(VXOR)$3,404.231,000.00%
  • ICPanda DAOICPanda DAO(PANDA)$0.003106-39.39%
  • bitcoinBitcoin(BTC)$107,963.000.56%
  • ethereumEthereum(ETH)$2,534.100.00%
  • tetherTether(USDT)$1.000.02%
  • rippleXRP(XRP)$2.330.92%
  • binancecoinBNB(BNB)$667.501.06%
  • solanaSolana(SOL)$176.170.70%
  • usd-coinUSDC(USDC)$1.000.00%
bitcoin
Bitcoin (BTC) $ 107,874.90
ethereum
Ethereum (ETH) $ 2,530.54
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.33
bnb
BNB (BNB) $ 668.32
solana
Solana (SOL) $ 176.10
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.225355
cardano
Cardano (ADA) $ 0.746365
tron
TRON (TRX) $ 0.270491