Yeah, they were technically a Bahamas entity and fall under the jurisdiction of that country, technically, but likely under US jurisdiction as well in order to

Yeah, they were technically a Bahamas entity and fall under the jurisdiction of that country, technically, but likely under US jurisdiction as well in order to operate in the country. There's a whole really confusing business entity diagram I saw floating around somewhere, but can't find it offhand. But the way they were structured was obviously for tax havens and to blur their financial ties between entities. I'll be honest in that it goes above my head as I'm not deep into finance and regulations, however seeing statements about the level of fraud being unprecedented by the overseer of the Enron bankruptcy (who's overseeing FTX bankruptcy as well) is not very reassuring. And yes, they did require full human-verified KYC to access any exchange functionality. Actually that was a downside, because the day they filed Chapter 11, their site was compromised and who knows who potentially accessed the PII from all their customers in that mess.