On November 11, 2022, the Cyprus Securities and Exchange Commission (CySEC) announced the suspension of the authorisation of Cyprus Investment Firm FTX (EU) Ltd, along with several of its subsidiaries, due to their filing for Chapter 11 bankruptcy in the United States.
In an update, CySEC has stated that the suspension will be extended until May 30, 2025, to allow FTX EU to take necessary actions in order to comply with The Investment Services and Activities and Regulated Markets Law of 2017.
During this period, FTX EU is prohibited from providing investment services or activities, entering into any new business transactions, and advertising itself as an investment services provider.
However, the company may complete any transactions and client instructions that were initiated before the suspension and return all funds and financial instruments belonging to its clients, if it is consistent with their wishes.
