Cyprus SEC suspends FTX Europe license until September

2024-04-17 22:21:48

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ChainCatcher news, the Cyprus Securities and Exchange Commission (SEC) has extended the suspension period of FTX Europe's license, prohibiting the company from providing services until September 30, 2024.

The agency stated that FTX Europe must take necessary actions to comply with the relevant provisions of the Investment Services and Activities and the Regulated Markets Law. FTX Europe is prohibited from providing investment services and engaging in any business transactions or accepting any new clients. The announcement noted that the company is also prohibited from advertising investment services.

On the other hand, the regulatory authority requires FTX Europe to complete all transactions and client transactions as requested by customers. The Cyprus Securities and Exchange Commission ordered the company to also refund all funds and financial instruments belonging to its clients.

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