A subsidiary of cryptocurrency exchange FTX has been registered by the Bahamas Securities Commission as a digital asset business.
FTX Digital Markets is the first platform in the jurisdiction to be licensed under the DARE Act, according to the statement.
FTX Founder and CEO Sam Bankman-Fried said:
“With this expansion through the DARE Act, we are committed to providing our customers with a secure, reliable and compliant exchange.”
The company seeks to maintain a working relationship with regulators to “navigate together in creating a comprehensive regulatory framework” for the new asset class, he added.
On September 17, another FTX subsidiary, crypto derivatives exchange ZUBR, received a blockchain services provider license from the Gibraltar Financial Services Commission.
FTX bought the jurisdiction-based platform in early 2021.