FTX told Treasury its customer safeguards were ‘robust’

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In a newly released submission dated May 29, the failed cryptocurrency exchange told the Australian government its procedures were “robust” and “sophisticated”.

he had seen in his career – a career that included overseeing the bankruptcy of Texan energy giant Enron after an accounting scandal in the early 2000s.

The submission was part of a public consultation on the proposals of last year’s report by parliament’s Select Committee on Australia as a Technology and Financial Centre, chaired by Coalition Senator Andrew Bragg, which is expected to influence the shape of crypto regulationsAs well as its opposition to mandatory third-party custody, FTX also argued that crypto platforms that already hold an Australian Financial Services Licence should be “fast-tracked”, if the government were to introduce a...

 

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