Company regulator ASIC has introduced the cancellation of the Australian monetary licence held by FTX Australia, the native arm of a collapsed US cryptocurrency trade, efficient July 14.

Beneath the phrases of cancellation, FTX Australia was allowed to supply restricted monetary companies that relate to the termination of present derivatives with purchasers till July 12.

The cancellation has no impact on FTX Australia’s necessities to proceed as a member of Australian Monetary Complaints Authority, and to have preparations for compensating retail purchasers.

The cancellation was introduced after ASIC suspended FTX Australia’s AFS licence till Might 15, which was subsequently prolonged to July 24.

On Nov. 11, FTX was positioned into voluntary administration, together with its subsidiary, FTX Specific, which operated a digital foreign money trade not regulated by ASIC. John Mouawad, Scott Langdon, and Rahul Goyal of KordaMentha had been appointed as voluntary directors.

Previous to the suspension and cancellation, ASIC stated FTX Australia’s licence “permitted it to deal in, make a marketplace for and supply basic recommendation regarding derivatives and international trade contracts to retail and wholesale purchasers.”