Sources: Swiss Regulator Rejected FTX Europe's Trading License Application

Sources said that Swiss regulator rejected FTX Europe's trading license application. Meanwhile, the entity lost its Cypriot license amid the fallout.

Based in Pfäffikon near Zurich, FTX Europe was operating in the European Union with a Cyprus Investment Firm (CIF) license. The license was granted in September, which allowed the European arm of FTX to offer crypto derivatives to retail customers within the European Economic Area (EEA).