Home Trading CySEC extends suspension of FTX license until March

CySEC extends suspension of FTX license until March

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Following the cryptocurrency exchange’s collapse, the Cypriot regulator temporarily suspended the license. This happened only two months following FTX’s approval by the Cyprus financial regulator, allowing it to offer European clients company products and services.

CySEC informed that the exchange cannot offer or perform investment services in the country during the suspension. It also can’t enter into any business transaction or take on any new client. FTX is also not allowed to market itself as an investor services provider.

However, while its authorization is suspended, the regulator allows the company to complete “its own transactions and those of its clients which are before it, in accordance with client instructions.” FTX is also permitted to return all funds and financial instruments that belong to clients.

The founder and former CEO of the exchange are currently facing criminal charges. He is being joined by top execs like the former CEO Alameda Research, and the former CTO of FTX who pleaded guilty.

LeapRate first published the post CySEC extends license suspend on FTX up to March



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