CySEC requested FTX's European arm suspend operations prior to bankruptcy: Report

CySEC requested FTX’s European arm suspend operations prior to bankruptcy: Report

The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States that the regulator requested the exchange halt operations for its Europe arm.

According to a Nov. 11 Reuters report, the CySEC said it had asked FTX Europe to “suspend its operations and to proceed immediately with a number of actions for the protection of the investors” on Nov. 9. It’s unclear why the financial regulator chose to reiterate its call to the crypto exchange, given FTX Europe was one of roughly 130 companies in FTX Group which will be filing for bankruptcy.

CySEC approved the FTX arm to operate in the island nation from its regional headquarters in March, with its European

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