
Bybit Removed From French Financial Watchdog Blacklist, Eyes MiCA License
Key Notes
Key Notes:
The exchange’s regulatory journey reflects transformation from cautioned platform to potential MiCA-compliant market participant.Bybit’s CEO Ben Zhou’s two-year regulatory engagement demonstrates long-term commitment to European market compliance and expansion.A broader industry shift emerges as multiple exchanges like Bitget and OKX pursue MiCA compliance for EU-wide operations.
Bybit, one of the world’s leading cryptocurrency exchanges, has been removed from France’s financial regulatory blacklist after being flagged by the Autorité des Marchés Financiers (AMF) in 2022 for non-compliance with local regulations. This development marks a significant step for Bybit’s operations in the French market.
Having addressed its regulatory issues over the past two years, the exchange is now setting its sights on broader European expansion by seeking approval under the Markets in Crypto Assets (MiCA) framework.
The AMF had previously issued warnings against Bybit’s operations. Last year, the agency publicly cautioned investors about the exchange’s unauthorized status. It also reaffirmed its blacklisted status. However, the regulator has now updated the press release with a note clarifying that the information is no longer current.
Bybit’s removal from the blacklist follows its recent exit from the French market. In January, Bybit announced it would stop offering withdrawal and custody services to its French users because of stricter regulations. While this departure seemed like a setback, this new development suggests Bybit might be planning a return.
In a statement, CEO Ben Zhou revealed that Bybit is focused on growing its presence in Europe. Zhou said the company has been working with French regulators for over two years and is seeking a MiCA license.
After more than 2 years of working with the French regulator through multiple remediation efforts, BYBIT is now officially removed from France AMF blacklist. MiCA license next. pic.twitter.com/irPf5bOSBp
— Ben Zhou (@benbybit) February 14, 2025
This license would let Bybit offer regulated crypto services across the European Union if approved. This could help the exchange secure its place in the growing European market.
While Bybit’s situation in France has improved, it still faces regulatory issues in other places. In Malaysia, authorities have ordered the platform to stop its operations. In India, the exchange had to suspend services because of regulatory problems.
Bybit is not the only trading platform in the race to comply with MiCA regulations. Bitget, another rising exchange, is also seeking a MiCA license. This came after Coinspeaker reported that the platform obtained approval to provide crypto services in Bulgaria.
This development adds to its already established presence in Poland and Lithuania. Bitget’s Chief Legal Officer, Hon Ng, has confidence in securing full MiCA approval by 2025.
Other crypto exchanges are also making efforts in the European regulatory landscape. Coinspeaker recently reported that OKX had secured full MiCA licenses, allowing it to operate legally across the EU.
Additionally, major exchanges like Coinbase Global Inc. and Crypto.com are delisting non-compliance crypto assets and stablecoins to comply with the MiCA rules. These events reflect a broader trend where exchanges align with European regulatory standards to ensure long-term stability and growth in the region.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
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