Crypto exchange Bybit returns to UK after 2-year break with 100 crypto trading pairs
Bybit has returned to the UK market, offering spot trading on 100 currency pairs after exiting in 2023 due to stricter crypto marketing rules.Summary
Bybit, the world's second-largest cryptocurrency exchange by volume, has resumed services in the U.K. two years after withdrawing due to the Financial Conduct Authority's (FCA) stringent rules on crypto promotion introduced in October 2023. The exchange is now offering spot trading across 100 currency pairs.
Although Bybit itself is not licensed in the country, it is operating under a framework designed to meet FCA financial promotion standards by partnering with London-based crypto exchange Archax. Archax holds a special license from the regulator that allows it to approve financial promotions, acting as a gateway for unauthorized firms like Bybit, Coinbase, and OKX to market services to U.K. consumers.
Bybit expressed optimism about the U.K.'s regulatory direction, noting its sophisticated financial ecosystem, and plans to introduce new, compliant products tailored for U.K. users.
(Source：CoinDesk)