Cryptocurrency exchange FTX forms new unit in Australia

As part of its global expansion efforts, cryptocurrency exchange FTX on Monday has established a local presence in Australia, according to a release. Newly formed FTX Australia will offer a suite of exchange and over-the-counter based products and services, as well as derivatives on its registered and licensed platform. "As in other jurisdictions within which we operate, significant resources have been allocated to proactively engage with local regulators," said FTX Founder and CEO Sam Bankman-Fried. "We look to be a participant in policy discussions globally and will seek to continue this same level engagement locally through FTX Australia, and we are encouraged by the important work being undertaken to establish a new digital asset licensing regime." Last week, FTX expanded its operations in Africa.