Cyprus Regulators To Suspend FTX EU Crypto License. Summary:.
12 Nov 2022, 08:01
Cyprus Regulators To Suspend FTX EU Crypto License
Summary:
FTX stands to lose its crypto license issued by financial regulators in Cyprus, Bloomberg said on Friday.The license allowed Sam Bankman-Fried’s exchange digital asset services across European markets and jurisdictions.Friday’s suspension joined several shocking developments that have emerged since FTX’s sudden collapse rocked crypto investors and institutions alike.FTX, Sam Bankman-Fried’s trouble cryptocurrency exchange, might lose its European digital asset license as Cyprus regulators mull the decision in the wake of spreading contagion.
In July, the Cyprus Securities and Exchange Commission (CySec) approved FTX for an “operational license”. The regulatory nod allowed SBF’s exchange to offer its services across markets in Europe. A regional headquarters in Switzerland was announced alongside the regulatory victory, EthereumWorldNews reported at the time.