Cryptocurrency exchange FTX is being run by regulators in various countries. FTX Europe, the European arm of FTX, has had its application for a trading licence in Switzerland rejected.

FTX Europe, which is based in Zurich, had applied to Swiss banking regulator Finma for a so-called "organised trading system" licence but was rejected by the regulator.

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

Japan's Financial Services Agency (FSA) also asked FTX Japan, the exchange's business company in Japan, to suspend accepting business orders.

The Australian Securities and Investments Commission (ASIC) has also suspended FTX Australia's Australian Financial Services (AFS) licence until 15 May 2023. Under this licence, FTX Australia has the right to provide trading, market making and general advice on derivatives and currency pair contracts to retail and wholesale clients.

In addition, Indonesia's commodity futures trading regulator has ordered the country's digital asset exchanges to stop trading FTX tokens.

Source: FX110