The Securities Commission of The Bahamas re-issued a public notice warning that FMFW Ltd, which offers services to the public as a digital token exchange via its website, is not registered with or licensed by the Commission and has not applied for authorisation to conduct regulated activities in or from within The Bahamas. The Commission stated it has become aware that FMFW may be conducting activities that are registrable or licensable, or illegal, under one or more of the Securities Industry Act, 2024, the Investment Funds Act, 2019, the Financial and Corporate Service Providers Act, 2020 and the Digital Assets and Registered Exchanges Act, 2024. It highlighted that the Digital Assets and Registered Exchanges Act, 2024 prohibits carrying on, being involved in, or purporting to carry on a digital asset business in or from within The Bahamas without having applied to and been registered by the Commission, and warned the public to exercise extreme caution when engaging with FMFW or its agents.
Bahamas Securities Commission 2025-07-22
Securities Commission of The Bahamas re-issues public warning that FMFW Ltd is not registered or licensed for digital asset business
The Securities Commission of The Bahamas warned that FMFW Ltd, a digital token exchange, is not registered or licensed. FMFW may be conducting activities requiring registration under Bahamian acts, including the Securities Industry Act, 2024, and the Digital Assets and Registered Exchanges Act, 2024. The Commission advises extreme caution when dealing with FMFW or its agents.