CySEC requested FTX’s European arm suspend operations prior to bankruptcy: Report
Cointelegraph
Published Nov 11, 2022 12:00PM ET
Updated Nov 11, 2022 01:40PM ET
The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States requesting 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 that FTX Europe is one of roughly 130 companies in FTX Group that will be filing for bankruptcy.
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Written By: Cointelegraph
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