The Cyprus Securities and Exchange Commission (CySEC) has provided an update on the suspension of the authorisation of the Cyprus Investment Firm FTX (EU) Ltd.

The suspension is extended until May 30, 2025 so that the company may proceed with the necessary actions in order to comply with the relevant provisions of The Investment Services and Activities and Regulated Markets Law of 2017.

While the suspension of the authorisation is in force FTX EU is not permitted to:

• Provide/carry out investment services/activities.
• Enter into any business transaction with any person and accept any new client.
• Advertise itself as a provider of investment services.

The company, provided this is consistent with the wishes of its existing clients, may proceed with certain actions, including:

• completing all its own transactions and those of its clients which are before it, in accordance with client instructions.
• return of all funds and financial instruments which are attributable to its clients.

The suspension of FTX’s CIF license was initially announced on November 11, 2022, as FTX and a number of its subsidiaries filed for Chapter 11 bankruptcy in the United States.