The collapse of Sam Bankman-Fried’s (SBF) FTX may have serious repercussions for the Bahamas as a financial services jurisdiction and its ongoing efforts to be seen as a legitimate jurisdiction for crypto exchanges.

Politicians and regulatory authorities in the region are certainly aware of this risk and there's a consistent air of panic in their statements on the subject. And who can blame them when the stakes are so high.

Last week, member of parliament James Kwasi Thompson made a statement in support of the attorney general's comments on FTX. He also criticized the Bahamian government for causing "irreputable damage" to the country with its silence.

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