Bybit Exits Illegal Status in France After Two-Year Compliance Efforts

Overview

Crypto exchange Bybit is no longer operating illegally in France, according to the country’s financial regulatory authority, with compliance efforts spanning over two years.

Key Points

Following new regulations, Bybit aims to secure a MiCA license to function across Europe.
CEO Ben Zhou announced on social media that Bybit has been successfully removed from France’s AMF blacklist.

Detailed Insights

After more than two years of discussions with the French authorities, Bybit has overcome its previous legal challenges in France. The company has now committed to obtaining a Markets in Crypto Assets (MiCA) license, which will facilitate its operations throughout the European Economic Area.

Zhou expressed his optimism on X, saying, “MiCA license next.” Obtaining this license is crucial for expansion as it allows companies to conduct business in 30 European countries. The exchange is known for its resilience; recently, it secured a license in India after resolving regulatory conflicts there.

For more details, you can refer to the AMF database to confirm Bybit’s updated status.