Australia’s Securities Regulator Cancels License Of FTX’s Local Arm

The Australian Securities & Investments Commission (ASIC) has revoked the license of FTX’s Australian subsidiary, a cryptocurrency exchange offering services for Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and other cryptocurrencies. The cancellation will take effect on July 14, reported Reuters Background: FTX, headquartered in the Bahamas, was once a star of the crypto industry with a $32 billion valuation in January 2023.