Initially, the Cypriot regulator had suspended the crypto exchange license on 11 November 2022 after its collapse. The suspension was then extended once more in December 2022 and March 2023.
CySEC informed that the exchange cannot offer or perform investment services in the country during the suspension. It also can’t enter into any business transaction or take on any new client. FTX is also not allowed to market itself as an investor services provider.
However, while its authorization is suspended, the regulator allows the company to complete “its own transactions and those of its clients which are before it, in accordance with client instructions.” FTX is also permitted to return all funds and financial instruments that belong to clients.
Meanwhile, new charges against FTX’s founder Sam Bankman-Fried were recently brought up of bribing Chinese officials with $40 million to unfreeze his hedge fund’s accounts in late 2021. The former billionaire faces two counts of inducment, including conspiracy to commit fraud against banks and securities fraud.
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