CySEC Planning To Suspend FTX's EU Operating License
November 11, 2022
Bloomberg reported that Cyprus regulators
CySEC is planning to suspend FTX’s two-month-old license, which allows the troubled crypto exchange to operate throughout Europe.
FTX has had its license in Cyprus suspended by the CySEC following a liquidity crunch that prompted a withdrawal freeze, the report also said.
FTX secured approval for its domain www.ftx.com/eu from the CySEC in March after acquiring local firm K-DNA Financial Services LTD.
The entity was later renamed FTX EU Ltd.
In September, FTX EU said it had secured a CySEC license to operate as a Cyprus investment firm.
FTX had CySEC lincense to serve the whole European Economic Area which includes the EU as well as Iceland, Liechtenstein and Norway.
Slide 8- FTX, which is in last-ditch talks for rescue financing, and SBF himself are being investigated by the United States SEC.