The Cyprus Securities and Exchange Commission (CySEC) has revoked the suspension of authorization for Trek Labs Europe Ltd, previously known as FTX (EU) Ltd. This announcement was made on July 4, 2025, following a CySEC meeting that took place on June 23, 2025. The license of the Cyprus Investment Firm had been suspended since November 2022.
Under new ownership and a rebranding initiative, the company has rectified the regulatory issues that led to the suspension. It has also paid a settlement of €200,000 to CySEC for potential regulatory violations. These infractions, related to client information and organizational requirements, occurred before the company underwent its transformation, specifically between March and November 2022.
CySEC has expressed satisfaction with Trek Labs Europe’s adherence to the Investment Services and Activities and Regulated Markets Law. The decision to lift the suspension reflects their compliance.
For more insights and updates, visit FinanceMagnates.com: Learn about the new owner Backpack’s initiation process to address FTX EU customers’ claims.
