The French securities regulator, the Autorité des Marchés Financiers (AMF), has restated its warning to cryptocurrency investors that Bybit is on the country’s blacklist. In a notice on May 16, the AMF reminded the French public that Bybit is an unregistered crypto platform operating illegally in France, providing digital asset services on behalf of third parties. The regulator emphasized its authority to block Bybit’s website if it continues to offer services illegally in the country. Bybit has been on the AMF blacklist since May 2022 for non-compliance with French regulations. The AMF has also approved the registration of other crypto-related platforms such as Gemini, Coinbase, and Circle. In March, Hong Kong’s Securities and Futures Commission issued a similar warning about Bybit being an unregistered crypto trading platform. Bybit has responded to regulatory scrutiny by exiting the markets in Canada and the U.K. in 2023. However, it has continued its expansion globally by launching a regulated crypto trading platform in the Netherlands and Kazakhstan. Bybit, founded in 2018, is one of the world’s largest cryptocurrency exchanges and reported trading volume of over $71 billion on Feb. 27.
Bybit's provision of services deemed 'illegal,' cautions French regulator to investors