Cyprus Securities and Exchange Commission suspends FTX Europe’s license until September

The Securities and Exchange Commission (SEC) of Cyprus extended the suspension period of FTX Europe's license, prohibiting the company from providing services until September 30th, 2024. The organization stated that FTX Europe must take necessary actions to comply with the relevant regulations of the "Investment Services and Activities" and "Regulated markets" laws. FTX Europe is prohibited from providing investment services, conducting any business transactions with anyone, or accepting any new clients. The announcement also stated that the company is prohibited from advertising investment services. On the other hand, the regulatory agency requires FTX Europe to complete all transactions and customer transactions according to customer requirements. The Securities and Exchange Commission of Cyprus also ordered the company to refund all funds and financial instruments belonging to its customers.