Trek Labs Settles with CySEC for €200,000 in New Agreement

Trek Labs, formerly known as FTX EU, has consented to a €200,000 settlement with the Cyprus Securities and Exchange Commission (CySEC). This agreement addresses CySEC’s investigations into the company’s adherence to relevant supervisory regulations. The action signifies the latest development in a series of legal and regulatory hurdles faced by entities connected to FTX following its collapse. The investigation centers on whether Trek Labs implemented necessary protocols and procedures to guarantee investor protection and compliance with all relevant financial laws. The funds acquired from the settlement will be used to support various CySEC initiatives intended to bolster market integrity and investor protection within Cyprus. This agreement is anticipated to prompt greater scrutiny of cryptocurrency firms operating within the region.