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CySEC requested FTX’s European arm droop operations previous to chapter: Report
The Securities and Trade Fee of Cyprus, or CySEC, reportedly issued a press release amid FTX submitting for Chapter 11 chapter in the US requesting the alternate halt operations for its Europe arm.
In accordance with a Nov. 11 Reuters report, the CySEC mentioned it had requested FTX Europe to “droop its operations and to proceed instantly with a lot of actions for the safety of the buyers” on Nov. 9. It’s unclear why the monetary regulator selected to reiterate its name to the crypto alternate, provided that FTX Europe is considered one of roughly 130 firms in FTX Group that can be submitting for chapter.
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