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Bybit has been removed from France’s AMF blacklist and is now seeking a MiCA license in the EU, but still faces regulatory challenges in India and Malaysia.
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Bybit has officially been removed from France’s Autorité des Marchés Financiers (AMF) blacklist.
The trading platform has been on the AMF blacklist since May 2022 for “non-compliance” with local rules. Cointelegraph has confirmed that Bybit no longer appears on AMF’s blacklist of “unauthorized companies and websites.”
A press release from the AMF dated May 2024 warned the public that Bybit is a blacklisted entity. However, the release now has a disclaimer stating: “The information in this press release is no longer up to date.”
The exchange left the country recently after it told its French clients that withdrawal and custody services would be stopped from Jan. 8, citing increasing regulatory scrutiny from the local financial watchdog.
Bybit CEO Ben Zhou announced on Feb. 14 that the exchange has been working with the French regulator on remediation for over two years and is now seeking to obtain a Markets in Crypto-Assets Regulation (MiCA) license in the European Union.
Source: Ben Zhou
However, the exchange faces additional regulatory hurdles abroad. In Malaysia, the securities regulator ordered it to halt operations, while its regulatory pressure pushed the exchange to suspend its services in India.
This article first appeared at Cointelegraph.com News
