CandleFocus Cyprus SEC extends FTX license suspension until May 2025, tightens restrictions on operations
2024-11-06
Author: Content Editor
The Cyprus Securities and Exchange Commission (CySEC) has extended the suspension of FTX (EU) Ltd’s CIF license until May 30, 2025. CySEC made this decision to give the firm time to comply with the country's investment laws. FTX (EU) Ltd is not allowed to engage in investment activities, advertise its services, or accept new clients, but it can complete transactions with client approval and must reimburse customers' funds and assets. This extension comes after a series of disputes and the collapse of FTX's parent company in the United States. FTX had previously announced plans to refund its customers, while its parent company has made deals to reimburse customer funds. The exchange's clients must now wait for a resolution.
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