Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Cyprus SEC extends FTX license suspension until May 2025, tightens restrictions on operations

Source Cryptopolitan

Cyprus’ financial regulator, the Cyprus Securities and Exchange Commission (CySEC), has postponed hopes of a Sam Bankfied-Fried-linked firm resuming operations there.

In a November 5th written notice, the watchdog said it had extended its suspension of FTX (EU) Ltd’s CIF license until May 30, 2025. CySEC explained it had taken the decision to allow the firm time to comply with the nation’s investment laws.

Part of CySEC’s notice reads:

The Cyprus Securities and Exchange Commission announces that the suspension of the authorization of the Cyprus Investment Firm FTX (EU) Ltd is extended until 30.5.2025 for the company to proceed with the relevant provisions of The Investment Services and Activities and Regulated Markets Law of 2017.
~CySEC

CySEC’s notice also outlined the rules that FTX (EU) must follow. For instance, the company can’t engage in investment activities, including advertising its services and accepting new clients. However, it can complete all transactions with its clients’ approval. Again, the firm must reimburse its customers’ funds and assets.

How did FTX (EU) get here?

FTX (EU) Ltd is no stranger to controversy. Its woes date back to early 2022 when CySEC first suspended its operations. The issue in contention then was the exchange’s purported failure to protect client assets. The regulator had also expressed misgivings about the suitability of its management.

Things took a turn for the worse with the collapse of its parent company in America. An SBF-orchestrated fraud saw the American unit crumble and file for bankruptcy. That sent shockwaves reverberating through the FTX global empire, sweeping away its Cyprus business and other outfits.

FTX (EU) would soon file for bankruptcy, leaving the regulator no choice but to suspend its operations in late December 2022, running to March 31, 2023. With things not improving for the exchange, CySEC extended the suspension until September 30, 2023

Subsequent reviews saw the watchdog prolong the exchange’s suspension first to March 31, 2024, then to September 30, 2024. It is the latest of these extensions that will keep the exchange off business til mid-2025

The company had announced plans to refund its customers

CySEC’s notice comes at a time when FTX had announced plans to refund its customers their funds. Its parent company has also struck deals to reimburse customer funds. Its liquidators have also received a US court’s nod to sell off its other units, including the Cyprus one.

For now, the exchange’s clients can only wait in the hope of a timely conclusion to their ordeal.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Natural Gas sinks to pivotal level as China’s demand slumps Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Author FXStreet

Jul 01, 2024

Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

Nov 17, 2025

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

When is the BoJ rate decision and how could it affect USD/JPY?The Bank of Japan (BoJ) will announce its interest rate decision between 03.30 and 05.00 GMT, followed by Governor Kazuo Ueda's press conference at 06.30 GMT.

Author FXStreet

Dec 19, 2025

The Bank of Japan (BoJ) will announce its interest rate decision between 03.30 and 05.00 GMT, followed by Governor Kazuo Ueda's press conference at 06.30 GMT.

ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next Move With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.

Author Mitrade

Dec 26, 2025

With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.

Gold Price Forecast: Oil Price Breaking $100 Fuels Inflation Concerns, Will Gold Prices Fall Further?As of the Asian session on July 24, gold prices ( XAUUSD) fell continuously during intraday trading, briefly approaching the $4,000 mark. Looking at the chart, gold prices rebounded this

Author TradingKey

Jul 24, Fri

As of the Asian session on July 24, gold prices ( XAUUSD) fell continuously during intraday trading, briefly approaching the $4,000 mark. Looking at the chart, gold prices rebounded this

Popular Symbols