Beautiful Virgin Islands

Tuesday, Jun 03, 2025

FTX Crypto Exchange Moves Headquarters From Hong Kong To Crypto Friendly Bahamas

FTX Crypto Exchange Moves Headquarters From Hong Kong To Crypto Friendly Bahamas

FTX, the crypto derivative exchange, has officially moved its headquarters from Hong Kong to the Caribbean Island nation Bahamas, the firm announced. It remains incorporated in Antigua and Barbuda.

FTX Trading Limited has received licenses for subsidiaries in both Gibraltar and the Bahamas. It will operate under the banner of FTX Digital Markets in the latter, where it is registered as a digital assets business by the Securities Commission of the Bahamas.

FTX founder and CEO Sam Bankman-Fried tweeted:

“The Bahamas is one of the few places to set up a comprehensive framework for crypto. The Bahamas has emerged from COVID lively, safe, and without quarantine.”

Bahamas Attracts Crypto Business

The Bahamas, along with other Caribbean countries such as Bermuda, have very favorable policies for crypto businesses. The Bahamas began releasing the Sand Dollar, a central bank digital currency (CBDC), last year. Bahamas-based Deltec bank already provides services to FTX, Tether and other exchanges.

Moreover, the country passed the Digital Assets and Registered Exchanges Bill in late 2020, extending licensing to crypto and other Fintech firms. FTX Digital Markets is the first digital asset bill registered under the act. Securities Commission Executive Director Christina Rolle lauded the DARE Act’s role in attracting FTX to the island:

“It’s a huge vote of confidence for the jurisdiction, and what it signals is that you have a big player like this that is really looking for a jurisdiction that has clearly defined the scope of its regulation, and that is what DARE provides.”

Bankman-Fried tweeted:

“Having a comprehensive, nimble regulatory framework with oversight is essential to ensuring that the crypto industry is safe, robust, and growing. We’re excited to be one of the first global crypto exchanges to be part of a comprehensive spot + derivatives regulatory regime.”

Hong Kong Struggling to Keep Crypto Business

Semi-autonomous Hong Kong, by contrast, is increasingly falling in step with mainland China. The Chinese government reiterated today that cryptocurrency trading remains against the law, though it continues to work on a digital yuan. Last month, Binance was forced to stop allowing Hong Kong users to trade derivatives—which include futures, options, and perpetual contracts—on its platform. It cited a “commitment to compliance.”

FTX also does the bulk of its exchange volume from crypto derivatives, rather than mere spot trading, making Hong Kong a less-than-desirable location for a base of operations.

Moreover, Hong Kong, a major business hub, requires travelers to quarantine in a hotel for as many as three weeks. That cuts into FTX’s ability to move quickly as it expands its reach and forges new partnerships.

Source: FTX Moves Headquarters From Hong Kong To Crypto Friendly Bahamas  – Fintechs.fi
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
×