The Bahamas Attorney Frequent Ryan Pinder defended the actions of the nation’s regulators following FTX’s insolvency.

In a speech on Sunday, Pinder said that FTX stays the discipline of an brisk, ongoing investigation conducted by Bahamian regulators. Each and each civil and criminal authorities are having a survey into the alternate’s affairs, said Pinder.

“There are a different of protective measures that the regulator has taken below the authority conferred by the Supreme Court docket of The Bahamas. For the time being, we won’t situation out those measures in any further ingredient, except we’re assured that doing so won’t jeopardize any ingredient of the continued investigation,” he said.

Pinder moreover addressed the claims made by FTX’s newly appointed CEO John Ray III, reiterating that the latter “misrepresented” the Bahamian regulators actions within the most up-to-date Chapter 11 filings in New York final week.

The court filing in demand became filed on Nov. 17, the place aside the FTX debtors made a case that the Bahamas authorities became accountable for steering unauthorized entry to FTX’s methods.

Pinder argued that these painted a unfounded checklist of “the timely action taken by the Securities Price” and outmoded “unsuitable allegations” within the filing.

The Attorney Frequent praised the tempo at which The Bahamas Securities Price moved to net net page FTX below provisional liquidation following the news of its insolvency.

He said that the Securities Price went on to derive the FTX’s resources and defend it on behalf of merchants and creditors after it determined that provisional liquidation would no longer suffice given the nature of digital resources and the dangers connected to hacking.

“Any strive to achieve the complete lot of this debacle on the feet of the Bahamas, because FTX is headquartered here, would be a wicked oversimplification of truth,” he said.