The Australian Securities and Investments Commission (ASIC) today announced the suspension of FTXAustralia Pty Ltd's (" FTXAustralia ") Australian Financial Services (AFS) licence (Licence No. 323193) until 15 May 2023. Under this licence, FTX Australia has the right to provide trading, market making and general advice on derivatives and currency pair contracts to retail and wholesale clients.

On 11 November 2022, John Mouawad, Scott Langdon and Rahul Goyal of KordaMentha were appointed as voluntary administrators of FTXAustralia and its subsidiary FTX Express Pty Ltd. On the same day, CySEC suspended FTX's license and froze FTX EU's assets the day before.

Under the terms of the suspension, FTX Australia is able to continue to offer limited financial services in connection with the termination of existing derivatives transactions with clients until December 19, 2022.

ASIC said it was closely monitoring developments at FTX and would be in regular communication with international regulators and external regulators. ASIC advises FTX Australia's customers to monitor the situation closely and be aware of updates posted by FTX Group and FTX Australia administrators on the KordaMentha website.