On 22 December 2022, the Cyprus Securities and Exchange Commission (CySEC) issued a decision extending the suspension of the MiFID II licence of FTX (EU) Ltd (FTX EU).

CySEC first suspended the licence of FTX EU on 11 November 2022, just prior to the cryptocurrency exchange’s crash.

In its announcement of the extension, CySEC reiterates that for as long as the suspension is in place, FTX EU is not permitted to:

• Provide/carry out investment services/activities
• Enter into any business transaction with any person and accept any new client
• Advertise itself as a provider of investment services

The announcement also reiterates that FTX EU may, provided this is consistent with the wishes of its existing clients, proceed with the below actions, without such actions being considered as breach of relevant rules:

• Complete all its own transactions and those of its clients which are before it, in accordance with client instructions
• Return all funds and financial instruments which are attributable to its clients

A copy of CySEC’s decision on this matter can be found here.