Cryptocurrency exchange Bybit has been officially removed from the blacklist of France’s financial markets regulator, the Autorité des Marchés Financiers (AMF), after more than two years of regulatory efforts. This marks a significant step forward for the exchange, which is working toward obtaining a Markets in Crypto-Assets (MiCA) license that would enable it to legally operate across the European Union (EU).
Bybit has been blacklisted by the AMF since 2022 for operating without proper registration and offering digital asset services in France without authorization. The decision to remove the exchange from the blacklist follows extensive compliance efforts and regulatory discussions aimed at aligning with French regulations.
Ongoing Efforts Toward MiCA License
In a statement posted on X (formerly Twitter) on February 14, Ben Zhou, co-founder and CEO of Bybit, confirmed the removal of the exchange from the AMF blacklist and outlined the company’s plans to secure the MiCA license. The MiCA license would allow Bybit to operate fully within the EU’s legal framework for digital assets, a significant milestone as regulators across Europe continue to tighten rules on cryptocurrency services.
Bybit’s efforts to comply with France’s crypto regulations are part of broader moves to ensure the exchange remains compliant with global financial authorities. Despite this positive development in France, Bybit is still facing challenges in other jurisdictions.
Regulatory Pressure in Other Markets
Bybit’s regulatory hurdles extend beyond France. In Malaysia, the exchange has been ordered by the securities regulator to cease operations, and in India, increasing regulatory pressures have led Bybit to suspend its services in the country.
The exchange’s suspension of services in France, which includes halting withdrawals and custody services starting in January 2025, highlights the ongoing challenges that crypto exchanges face in meeting the requirements of various national authorities.
Bybit’s attempts to navigate these complex regulatory landscapes underscore the evolving nature of global crypto regulations, with exchanges facing increasing scrutiny from financial authorities worldwide.
