Cabinet: No Liability for Antigua and Barbuda Following Crash of FTX, which is Registered Here

The content originally appeared on: News Americas Now

Black Immigrant Daily News

The content originally appeared on: Antigua News Room

CABINET NOTES: The Solicitor General, the Deputy Solicitor General, a Crown Counsel, the Head of the FSRC, and other officials were invited to address the issues of FTX.

Questions arose about the immediate and long-term impacts of the bankruptcy of this parent company, registered but not licensed, in Antigua.

Though incorporated in Antigua and Barbuda, FTX was not granted a license to operate locally; the license was under review.

Nevertheless, the Company was deemed by its principals to be the parent company of several other firms that were established to carry on the Crypto currency business in several other states.

Following vigorous discussions with the lawyers, the Attorney General and the FSRC Officials, the Cabinet concluded that no liability attaches to the State of Antigua and Barbuda.