Bybit Exits French Market Amid Regulatory Pressures

Cryptocurrency exchange Bybit has announced its exit from the French market, citing increasing regulatory pressures from French authorities. The Autorité des Marchés Financiers (AMF) had previously issued a warning against Bybit, advising investors to avoid trading on the platform. Starting August 2, 2024, Bybit will restrict French users’ accounts to “close-only” mode, allowing them only to close existing positions and withdraw funds. Bybit has expressed its intention to re-enter the French market once it obtains the necessary regulatory licenses under French law.