- Bybit has left France after the nation made it more difficult for cryptocurrency companies to get the necessary licenses in August 2023.
The cryptocurrency exchange Bybit has made the decision to close its doors in France.
French users won’t be able to buy any kind of produce, create new positions, or add new ones after August 2 at 8:00 UTC. A corporate release states that the restriction applies to all Bybit products, including Bybit Earn and all spot products.
For French users, any open positions that remain unclosed after August 13 at 8:00 UTC will be liquidated. Only withdrawals of funds and assets will thereafter be permitted.
After making it more difficult for cryptocurrency companies to get the right licenses in August 2023 as a prelude to the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, Bybit has left France. This December, MiCA will be fully implemented.
Bybit announced in a release on Thursday that it will no longer be providing its products and services to French citizens and nations due to recent regulatory actions taken by the French regulator. As soon as we receive the necessary licenses to continue servicing you, we look forward to doing so in the near future.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
