Bybit Removed from AMF Blacklist: After two years of regulatory challenges, Bybit is officially off France’s AMF blacklist, marking a significant milestone in its compliance journey.
By Aniket Chakraborty
Feb 15, 2025
Strategic Exit from France: Bybit will halt withdrawal and custody services in France by January 2025, calling it a "strategic adjustment" to align with future goals.
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MiCA License Ambitions: Bybit is now focusing on obtaining the MiCA license, which would allow it to operate across 27 European countries seamlessly.
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Two Years of Remediation: The exchange worked closely with French authorities since 2022 to address compliance issues, showcasing its commitment to regulatory alignment.
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European Regulatory Shift: Bybit’s move reflects the growing demand for flexible, compliant players in Europe’s crypto market, as opposed to unregulated entities.
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Competition Heats Up: Rivals like Bitget are also racing for MiCA approval, with Bitget securing licenses in Bulgaria and expanding in Poland and Lithuania.
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MiCA’s Stringent Requirements: The MiCA framework demands enhanced transparency, rigorous checks, and liquid reserves, posing a challenge for Bybit’s adaptation.
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Global Regulatory Challenges: Despite progress in France, Bybit faces hurdles in markets like Malaysia and India, where it has been ordered to halt operations.
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CEO’s Announcement: Ben Zhou, Bybit’s CEO, confirmed the blacklist removal on X, emphasizing the platform’s next goal: securing the MiCA license.
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Europe as a Key Market: Bybit’s efforts highlight the importance of Europe’s crypto market, with MiCA serving as a golden ticket for expansion and legitimacy.