Bybit Could Cease its Operations in the UK

It has come to light that cryptocurrency exchange Bybit will likely have to cease operating in the British market in the near future.

This is because of the impending new marketing regulations that are to be enforced from October 8, as noted by the company’s CEO Ben Zhou.

He indicated that due to the tightening of regulation, they would be required to leave many states, including the UK.

These regulations entail firms to caution potential investors about the risks of purchasing digital assets. Bybit has been operating since 2018 and is an exchange for both derivatives and spot trading.

In May, the company was also granted a license by the Kazakh authorities, officially recognizing it as a regulated crypto exchange and storage service.