According to a statement released on July 19, the Australian Securities and Investments Commission (ASIC) canceled the Australian Financial Services (AFS) license held by FTX, a subsidiary operating in Australia, on July 14.

The license cancelation does not impact FTX Australia’s arrangements to compensate its retail clients and its continued Australian Financial Complaints Authority membership. The exchange could also provide limited financial services for terminating existing derivatives with clients before July 12, 2024.

FTX Australia serviced 30,000 customers

Before its license cancellation, FTX Australia serviced around 30,000 customers, making it one of the largest crypto platforms in the country.

Eight months before its collapse, in March 2022, ASIC had already begun raising …