Cyprus Securities and Exchange Commission (CySEC) has recently announced an extension of the suspension of FTX (EU) Ltd's authorization until the end of September 2023. Initially, the suspension was granted in 11 November 2022 after the bankruptcy filing of FTX.com, Alameda Research, and 130 related affiliates and was subsequently extended until the end of March 2023.

FTX Europe is based in Switzerland and received a CIF license from CySEC in March 2022. While it was not authorized to provide crypto services directly, it did provide derivative products with passporting ability to offer services inside the European Economic Area (EEA).

Furthermore, the Cyprus Investment Firm (CIF) license was essential in allowing FTX Europe to initiate withdrawals on behalf of customers and since its customers have begun the process, FTX Japan has processed over $50 million worth of digital assets and fiats within the first 24 hours.

CySEC Chair Dr. George Theocharides commented on the regulator's roles in ensuring swift withdrawals, expressing gratitude towards FTX Group Administrators for their collaboration and support and that the regulator is taking steps to safeguard investor interests. Since the suspension was first put in place, the FTX management had expressed that more than 110 potential buyers are willing to acquire their businesses but there had been no news on potential deals.



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