Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » Regulatory Changes Push Bybit to Suspend UK Operations

    Regulatory Changes Push Bybit to Suspend UK Operations

    0
    By jose on September 22, 2023 Companies, Cryptocurrencies, News
    Regulatory Changes Push Bybit to Suspend UK Operations
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Cryptocurrency exchange Bybit has announced that it will suspend its operations in the UK starting next month. This decision comes in response to the UK Financial Conduct Authority’s introduction of new rules regarding marketing and communications by crypto businesses.

    Bybit had previously stated that it was exploring all options to remain in the country. However, the new regulations, which take effect on October 8, 2023, have led the company to proactively embrace the regulation and pause its services in the UK.

    British Regulatory Pressure Claim Another Victim, Bybit

    Starting from October 1, 2023, Bybit will no longer accept new account applications from UK residents. From October 8, existing customers will not be able to add funds, make new contracts, or increase their positions.

    In response to the new regulations on marketing and communications for crypto businesses, as detailed in the Financial Promotion Rules for Crypto Assets Policy Statement issued by the Financial Conduct Authority, Bybit has decided to proactively comply with these rules. As a result, the company will temporarily halt its services in the U.K.

    British Regulatory Pressure Claim Another Victim, Bybit

    However, the crypto exchange has assured its customers that they will be able to reduce and close their positions and withdraw their funds from the platform. The UK’s affected customers have until January 8, 2024, to manage and wind down their positions. After this date, any open positions will be closed, and the liquidation funds will be available for withdrawal.

    Bybit has apologized for any inconvenience caused to its UK clients and expressed appreciation for their continued support. The company’s goal is to offer cutting-edge trading experiences to cryptocurrency believers with the necessary safeguards in place as the adoption of cryptocurrencies continues to rise across the globe.

    Bybit is not alone in its decision to suspend operations in the U.K. in light of the new regulations. Last month, the renowned payment service provider, PayPal, also announced a temporary halt to its cryptocurrency services in the country, with plans to resume next year.

    Bybit exchange Featured
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    jose

    Related Posts

    Hyperliquid’s USDH stablecoin call sparks fairness and governance debate

    September 5, 20253 Mins Read

    Ethereum ICO whale stakes 150,000 ETH ($646M) after three years of inactivity, reducing supply and signaling confidence

    September 5, 20253 Mins Read

    SharpLink to explore staking part of its $3.6 billion ETH treasury on Linea

    September 5, 20253 Mins Read

    Solana pulls back after profit taking near the $210–$212 barrier

    September 5, 20253 Mins Read

    Ether leads crypto market decline amid ETF outflows, whale accumulation, and regulatory uncertainty

    September 5, 20253 Mins Read

    Strategy Inc.’s path to the S&P 500 faces committee discretion, extreme volatility, and Bitcoin-dependent results

    September 5, 20253 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.