Summary:
- Announcement: Bybit will cease offering products and services in France due to recent regulatory changes.
- Effective Date: Starting August 2, French users will be unable to purchase products or add to positions.
- Action Required: Users are advised to close all open positions and withdraw funds.
Crypto exchange Bybit has announced its decision to withdraw services from France in response to recent regulatory changes by the French regulator. The company emphasized its commitment to compliance, stating, “It has always been Bybit’s primary objective to operate our business in compliance with all relevant rules and regulations.”
As a result, from August 2, French nationals and residents will no longer be able to purchase any products from Bybit or add to their existing positions. Additionally, all deposits to French user accounts will be restricted. Bybit urged its French customers to take immediate action: “Please wind down and close all of your open positions across all products and begin to withdraw your assets and funds from your account,” the company said in its press release.
This move highlights the increasing regulatory scrutiny faced by cryptocurrency exchanges worldwide. Bybit’s decision underscores the importance of adhering to local regulations as the crypto industry continues to evolve and mature.
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