The Cyprus Securities and Exchange Commission (CySEC) today issued a response to the announcement by FTX EU (Cyprus) that it will commence processes for the return of segregated funds to investors pursuant to Cyprus Law.
CySEC Chair Dr George Theocharides said:
“We are pleased that our work as the Regulator has contributed to this positive development after months of uncertainty and concern for investors. We are grateful to the FTX Group Administrators for their collaboration and support towards these efforts. Safeguarding the interests of investors is of paramount importance and CySEC will continue to hold FTX EU Ltd to account to ensure all withdrawal requests are processed swiftly and appropriately”.
The suspension of FTX’s CIF license was initially announced on November 11, 2022, as FTX and a number of its subsidiaries filed for Chapter 11 bankruptcy in the United States. The suspension of the authorisation of FTX (EU) Ltd, number 273/15, was subsequently extended.
