Following its acquisition of a local investment firm, FTX Europe said it has received the Cyprus Investment Firm License as granted by the country’s Securities and Exchange Commission (CySEC).
Branded as the only digital currency service provider to hold the license, FTX, through its European entity, said it is set to offer unique products and services to its users in consideration of existing laws in Cyprus. The exchange said its core responsibilities as a holder of the license is to ensure it segregates and protects clients' funds, provides full transparency of its business operations, and controls capital adequacy.
"Securing this license in the European Union is an important step in achieving our goal of becoming one of the most regulated exchanges in the world,” Sam Bankman-Fried, CEO & Founder of FTX, “We are continuing to work with CySEC and regulators across the globe to be the leader in the digital asset industry when it comes to meeting the financial standards that are...
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