Bybit relaunches UK crypto platform after 2023 exit linked to FCA rules

Crypto exchange Bybit has relaunched its platform in the United Kingdom, now offering spot trading and peer-to-peer services designed to comply with the Financial Conduct Authority's (FCA) financial promotion rules. The relaunch provides UK users access to 100 trading pairs, leveraging Bybit's global infrastructure. This move follows Bybit's suspension of UK services in September 2023, which was prompted by the introduction of stricter FCA marketing rules that the company found challenging to operate under at the time. Bybit's current UK operations adhere to AML/KYC standards and local compliance requirements through an arrangement with FCA-authorised firm Archax, which acts as a regulated financial promotion approver. Bybit Senior Policy Director Mykolas Majauskas stated the goal is to offer reliable access to global digital asset opportunities while prioritizing compliance. The exchange noted that it is not directly authorized or regulated by the FCA, and its services are not covered by UK compensation schemes.

(Source：The Block)