CySEC Lifts Suspension on Trek Labs, Formerly FTX EU, Following Compliance Approval

The Cyprus Securities and Exchange Commission (CySEC) announced the lifting of the suspension on the authorization of Cyprus Investment Firm Trek Labs Europe Ltd, previously known as FTX (EU) Ltd. The decision was made during a CySEC meeting on June 23, 2025, marking the resolution of regulatory issues that had led to the license suspension in November 2022.

Regulatory Compliance and Ownership Changes

Following a change of ownership and a rebranding, Trek Labs Europe Ltd settled with CySEC by paying EUR 200,000 for potential regulatory breaches related to organizational and customer data requirements spanning from March to November 2022. CySEC expressed satisfaction with Trek Labs Europe’s adherence to the Investment Services and Activities and Regulated Markets Law.

According to Finance Magnates, the acquisition of FTX EU’s MiFID II-regulated license by Backpack, a smaller exchange ranked 200th by daily trading volume, was approved by CySEC and the bankruptcy court. Despite plans to resume services, including crypto derivatives, the company remains suspended, focusing on refunding affected clients and managing bankruptcy claims.

Expert Commentary

According to Sam Boolman, ChainIntel’s lead analyst, “CySEC’s decision to lift the suspension on Trek Labs signifies a positive step towards regulatory compliance in the crypto sector. It demonstrates the regulatory authority’s commitment to ensuring that firms meet stringent standards to protect investors and uphold market integrity. This development also highlights the importance of transparency and accountability in the evolving landscape of digital asset trading.”