FTX Moves Headquarters From Hong Kong to Bahamas

Cryptocurrency derivatives exchange FTX has officially moved its headquarters from Hong Kong to the Bahamas, an FTX spokesperson confirmed to CoinDesk on Friday.

On Monday, FTX announced that its Bahamian subsidiary, FTX Digital Markets, had been granted regulatory approval in the Bahamas as a digital assets business, and named Ryan Salame to lead the unit.Regulators around the world have been increasing their focus on cryptocurrencies lately, with the latest instance being China’s central bank declaring all virtual currency-related activities illegal.“FTX is committed to maintaining a close working relationship with local regulators to help promote the growth of crypto and is furthering its commitment to providing all our clients with a safe, trustworthy and compliant exchange,” an FTX spokesperson said when asked why the company had made the move. “As jurisdictions, like the Bahamas, roll out comprehensive crypto regulatory regimes, we are excited to take part by establishing a local presence.”

UPDATE (Sept. 24, 16:33): Updated with confirmation from FTX in the first paragraph.

UPDATE (Sept. 24, 17:27): Added comment from FTX in third bullet point.

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