The Texas Securities Regulator (TSSB) said that FTX is yet to face enforcement action.
FTX US, the US arm of FTX, one of the world’s largest cryptocurrency exchanges, and the founder of FTX, Sam Bankman-Fried, are being investigated by Texas’ securities regulator. The PTSD-initiated investigation is another step in regulators’ actions towards the cryptocurrency industry.
Joseph Rotunda: No Sanctions Yet
The Texas regulator, who requested that the assets of the bankrupt crypto lending company Voyager be stopped from being purchased by FTX, said that no sanctioned result has yet emerged in the investigation it launched into FTX.
Joseph Rotunda, Executive Director of the Texas State Securities Board, said in a statement regarding the investigation:
“This was just a statement stating that an investigation was opened. We continue to gather information.”
The filing stated that while Rotunda was able to sign up for an FTX account, earning a return on it, the company may not comply with state and federal financial laws. However, Rotunda has clarified that it is not yet ready to make claims.
Reminding that Ryne Miller, the manager of FTX US, was also present at the panel he attended, Rotunda also said, “I don’t like filing enforcement cases. “I don’t want to settle matters with enforcement proceedings, which can be resolved with a phone call,” he said.
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