FTX has moved its headquarters from Hong Kong to the Bahamas due to the favorable position of the regulators.
Sam Bankman-Fried, founder and CEO of the trading platform, previously announced that FTX's subsidiary is listed with the Bahamas Securities Commission as a digital asset business.
“As jurisdictions implement comprehensive cryptocurrency regulation regimes, we are delighted to be involved. In addition, we prioritize offices in jurisdictions with no travel restrictions,” FTX spokeswoman Natalie Thien told the publication.
Trending: Dubai World Trade Center To Become a Crypto Hub and Regulator
According to her, Bankman-Freed is currently in the United States but is going to the Bahamas in early October.
“Who would have thought two years ago that free entry and exit from the country would be an important factor in choosing a place of residence, wrote the FTX CEO.
The exchange's verified Twitter account indirectly confirmed the headquarters transfer post.