Turkey’s Financial Crimes Investigation Agency is the latest authority to announce investigations into cryptocurrency exchange FTX following its collapse and bankruptcy filing on November 11.
Along with FTX, the agency will investigate individuals and institutions associated with the platform, including banks, electronic money institutions, and crypto asset providers, according to an official statement on Nov. 14. The regulator also said it had been monitoring FTX’s activities in accordance with the country’s anti-money laundering laws.
FTX Turkey, the regional subsidiary of FTX, provided a Google form for users who wanted to receive their funds, without specifying a delivery date. On his website and on his Twitter account, a note asked users to share the address of their international bank account number to proceed. to the refund process.
Turkey is one of the most relevant emerging markets for the cryptocurrency industry, with nearly 8 million people in the country engaged in cryptocurrency, according to figures from local cryptocurrency exchange Paribu.
About 130 FTX group companies – including FTX Trading, FTX US, under West Realm Shires Services, and Alameda Research – filed for bankruptcy in the United States on November 11. after the dramatic collapse of the exchange during the previous days.
In addition to Turkey, the United States and the Bahamas announced investigations into the cryptocurrency exchange over the past week. In the United States, the Securities and Exchange Commission and the Department of Justice are investigating the matter.
The Manhattan District Attorney’s Office in New York has also begun to investigate the circumstances that led to the collapse of the exchange. The California Department of Financial Protection and Innovation also announced its own investigation into the “apparent failure.”
In the Bahamas, Financial investigators and securities regulators are conducting an investigation into possible criminal conduct.
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