The Securities Commission of The Bahamas (SCB) has refuted claims made by the representative of US-based crypto exchange FTX and its debtors that the SCB had instructed FTX to “mint a substantial amount of new tokens.”

The SCB also denied the FTX debtors’ allegations that digital assets controlled by the SCB on behalf of FTX customers and creditors had been “stolen,” and expressed their concern that the investigation into FTX’s activities had been “impeded.”

Furthermore, the SCB urged FTX debtors to act in good faith and with the best interests of FTX’s customers and creditors in mind.

This statement comes after reports in December 2022 that the Bahamas government had requested that FTX’s former CEO, Sam Bankman-Fried, issue a new cryptocurrency controlled by local officials.