Australian Regulator Had Internally Raised Concerns on FTX

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Australian Regulator Had Internally Raised Concerns on FTX
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Australian regulator asicmedia was reviewing some of the products offered by FTX_Official when the exchange went into administration. By amitoj.

In December 2022, Australia's Assistant Treasurer Stephen Jonesagainst ASIC's suggestion that it lacked the power to intervene on the financial services licence of FTX. ASIC already had “extensive powers” to suspend, cancel or vary an Australian Financial Services Licence, Jones said.

"Since March 2022, ASIC had made enquiries with FTX Australia about the financial products offered by FTX Australia. The issues raised included pricing, FTX Australia’s compliance with ASIC’s CFD product intervention order and its on-boarding of clients," an ASIC spokesperson said. "ASIC’s review of these matters was on-going as at the time that external administrators were appointed to the Australian FTX entities," the spokesperson added.

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