The Australian financial services regulator has cancelled the license of FTX Australia, the local unit of the bankrupt crypto exchange.
However, the regulator later reinstated the license so that authorities could assist in unwinding trading positions and determining which funds belonged to whom.
There are two FTX entities in Australia, FTX Australia and FTX Express. The former held the AFS license that allowed it to offer derivative products to local customers. The latter allowed local customers to purchase crypto assets with Australian currency. Australian customers who linked a personal wallet or transferred crypto assets from another exchange to FTX are likely to be creditors in the global claims against FTX Trading.from June, FTX could re-launch as an entirely new exchange, with its restructuring team holding talks with parties potentially interested in financially backing such a reboot. Sources said that current FTX creditors would potentially be offered a stake in the reorganized crypto exchange, among other forms of compensation.
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