The Bahama's attorney general defended the country's actions in the wake of FTX's collapse, and said investors and tourists can be sure it's a safe place to both visit and operate a business. nikhileshde reports.
The Bahamas"is a nation of laws," the country's attorney general said, defending the island's actions in the wake of FTX's collapse., Ryan Pinder, who is also a senator and the minister for legal affairs, summarized FTX's collapse and alluded to The Bahamas' government's actions, while also seeking to reassure investors and tourists that the country was a safe place to both visit and operate a business.
Pinder reiterated at various points during his speech that The Bahamas would not share further information about ongoing civil and criminal investigations for fear of compromising them. "We urge all authorities here and abroad at a minimum to exercise at least the same amount of prudence and restraint in their public commentary as we do so as not to prejudice any of the proceedings that are ongoing," Pinder said.
The bulk of Pinder's speech focused on arguing that The Bahamas' regulatory regime was sufficient to oversee crypto businesses. He claimed that no other regulator could move as quickly as the Securities Commission had, said there are no global standards for crypto regulation, appeared to make a dig at the U.S.
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