According to Cointime news on June 14th, The Supreme Court of the Bahamas has granted FTX founder Sam Bankman-Fried permission to challenge new charges of bank fraud and bribery, in addition to the original charges of wire fraud and money laundering, brought against him by US prosecutors. The new charges were added after FTX collapsed last year. The court ruled that some charges could be dropped as they were not included in the original indictment that served as the legal basis for Bankman-Fried's extradition to the US. Bankman-Fried's lawyer intends to file an application for judicial review as directed by the Supreme Court and to continue pursuing his legal rights in The Bahamas.

Former FTX CEO Sam Bankman-Fried's lawyers are seeking to dismiss or sever six charges from his upcoming trial, citing potential delays in obtaining permission from The Bahamas to try him for these offenses. Prosecutors have acknowledged that they need permission from The Bahamas to try Bankman-Fried for five of the charges he was indicted for, but are seeking permission from the Bahamanian government to try him for these additional offenses.

Bahamas Prime Minister Philip Davis reflected on the collapse of the FTX crypto exchange that had been headquartered in the Caribbean country. He said he wouldn't have done anything differently. 

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The Bahamas is planning to tighten its crypto laws with a new bill that could be among the most advanced pieces of digital asset legislation in the world. The bill includes measures on stablecoins, proof-of-work mining, and crypto staking, and seeks to ensure that operators of a digital asset exchange have adequate and appropriate systems and controls for the scale and nature of their business. The new law will also bring in a comprehensive regulatory framework for stablecoins and cover crypto services such as advice, derivatives, and non-fungible tokens (NFTs) classified as financial assets. The move comes in the wake of the collapse of FTX, the crypto exchange largely based in the Bahamas, and the subsequent legal disputes involving the exchange's former CEO Sam Bankman-Fried.

Bankrupt crypto exchange FTX is suing the liquidators of its Bahamas entity, saying FTX Digital Markets wrongly claims to own the exchange and was actually “a front to facilitate a conspiracy” to defraud customers.

FTX wants to strip the company’s Bahamas arm from any claim over company assets, saying it is a mere shell set up to further alleged fraud by founder Sam Bankman-Fried, the company’s U.S. leadership said in a Sunday legal filing.

The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — has released a report on the company’s physical assets in the island nation.

FTX's U.S. leadership and the company's Bahamas wing's court-appointed liquidators have formed a cooperation agreement addressing how assets may be inventoried and disposed of, among other issues, a press release Friday said.

The Bahamas will have legal representation in the unfolding FTX case. The Caribbean nation chose Brown Rudnick as counsel “in certain matters of engagement related to the collapse of FTX Digital Markets Ltd.,” alongside Bahamian lawyers and other experts, according to a statement released by the law firm.