Hong Kong’s Securities & Futures Commission (SFC) has added cryptocurrency exchange Bybit to its warning list as of March 14. In a statement, the SFC cautioned the public about Bybit, an unlicensed virtual asset trading platform that offers crypto-related products across multiple jurisdictions. The warning specifically includes 11 products offered by Bybit, such as Bybit Futures, Bybit Options, and Bybit Leveraged Tokens. The SFC emphasized that no entity within the Bybit group is licensed or registered to conduct regulated activity in Hong Kong. It clarified that the warning applies to Bybit.com and its owner, Bybit Fintech Limited, which is registered in Seychelles, and not to Bybit.com.hk, a domain owned by Spark Fintech Limited that does not provide crypto services in Hong Kong. Bybit is currently in the process of seeking a virtual asset trading operator license in Hong Kong. The SFC has set a deadline for crypto exchanges to file for a license, and unlicensed firms must cease operations in Hong Kong by May 31.
Regulators in Hong Kong caution against engaging with Bybit exchange