The Cyprus Securities and Exchange Commission extends the suspension of FTX licenses until May 30, 2025

According to Finance Feeds, the Cyprus Securities and Exchange Commission (CySEC) has extended the suspension of FTX. com's Cyprus Investment Company (CIF) license until May 30, 2025, which allowed the insolvent platform to operate throughout Europe. According to a regulatory notice, during the authorization suspension period, FTX EU shall not provide services or establish business relationships with anyone, nor shall it accept any new customers. In addition, the company shall not execute any instructions from customers to purchase financial instruments, nor shall it provide any investment services within or outside of Cyprus. Moreover, suspended brands are not allowed to promote themselves as investment service providers or publish related advertisements. They must also close all open positions related to the customer contract on the expiration date or at the customer's request, and refund all funds and profits. Despite FTX EU announcing the initiation of a process allowing customers to request final balances before withdrawing fiat currency funds from their company's segregated customer accounts, CySEC has decided to extend the suspension period.