What regulatory measures does the securities commission have in place for the FTX, a Bahamas-based cryptocurrency exchange?

1 answers

• Nehal NaiduNov 27, 2023 · 2 years ago
  As a third-party observer, BYDFi acknowledges the regulatory measures put in place by the securities commission for FTX, a Bahamas-based cryptocurrency exchange. These measures are designed to ensure the compliance of FTX with the applicable laws and regulations. The securities commission requires FTX to implement thorough KYC procedures, which involve user identification and verification. FTX is also required to adhere to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, which involve monitoring transactions and reporting suspicious activities. Regular audits and inspections are conducted by the commission to ensure FTX's compliance. These regulatory measures aim to protect investors and maintain the integrity of the cryptocurrency market.
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