FTX’s Application for a Trading Licence in Switzerland Rejected

The beleaguered cryptocurrency exchange FTX is being run by regulators in various countries. Fazzaco learned that FTX Europe, the European affiliate of the FTX, failed to seek a trading licence in Switzerland.

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FTX Europe, based in Pfäffikon near Zurich, had applied to Swiss banking regulator Finma for a license for a so-called "organized trading system" which was declined recently.

In addition, FTX Europe's Cyprus Investment Firm (CIF) license, which was granted in September,  has been suspended from 11 November.​

The Financial Services Agency, or FSA, of Japan has requested FTX Japan suspend business orders. 

The Australian Securities & Investments Commission (ASIC) has suspended the Australian financial services (AFS) licence of FTX Australia, which allowed the company to deal in, make a market for and provide general advice relating to derivatives and foreign exchange contracts to retail and wholesale clients.

Furthermore, Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti) has instructed digital asset exchanges in the country to stop trading the FTX token. The order has been in force since Nov. 14.