Crypto exchange bybit excluded from black list of Autorité des Marchés Financiers (AMF), France‘s financial regulator. The trading platform was blacklisted in the spring of 2022 for operating in the country without a license.
The regulator’s representatives warned users about the high risks of trading on the exchange, calling their work illegal. However, the regulator has now reported on its official resource that this information is outdated and no longer relevant.
The exchange’s CEO, Ben Zhou, said the exchange has been working with French authorities for two years and is now preparing to obtain a license under the Markets in Crypto-Assets (MiCA), a pan-European law regulating crypto assets.
Last year, bybit received licenses in Georgia, Kazakhstan, Turkey and the Netherlands. According to Zhou, the company plans to obtain a license in Hong Kong, the United Arab Emirates (UAE).
However, not all regulatory issues have been resolved. For example, in India bybit suspended operations with rupees and closed trading access to users. In Malaysia, the Securities Commission completely banned the platform from providing services to clients.