Cyprus CYSEC’s financial regulator has announced that it has decided to recall the suspension of the authorization of Cyprus Investment Company Trek Labs Europe Ltd, former FTX (EU) Ltd. The regulatory authority stated that it was satisfied with the company’s compliance with the relevant provision of investment services and activities and the regulated markets of 2017.
History EU backpack
Now, the Crypto Exchange FTX had set up a shop in Cyprus in 2021-2022, acquiring a CYSEC CIF entity called K-DNA Financial Services Ltd. FTX will use the EU island nation as a gateway to provide adjustable customers. After the FTX went to the belly, CYSEC suspended the FTX (EU) Ltd.
The FTX EU was finally acquired by Crypto Exchange’s backpack Exchange Operator based on USA/Dubai, renamed the redemption stock, the backpack stated that its new EU ARM plans to activate the FTX EU license to offer a complete cryptographic suite throughout EU. It now allows the backpack to proceed with EU adjustable plans.
As part of the acquisition, the EU Backpack said it would distribute capital back to the eligible former FTX EU customers.