Bybit removed from AMF blacklist in France

Cryptocurrency exchange Bybit has officially been removed from the blacklist of the French financial regulator (AMF), two years after being included. In 2022, the AMF accused the exchange of failing to comply with local financial regulations, warning investors against using the platform.

In response, Bybit suspended customer service in France and began working to resolve the regulator’s claims. After lengthy negotiations and the implementation of the necessary changes, the head of the exchange, Ben Zhou, announced at X that the process was completed and he was leaving the blacklist.

ByBit’s further plans for legalization

The lifting of restrictions in France opened up the possibility for Bybit to legally enter the entire EU market. The company is now seeking to obtain a MiCA (Markets in Crypto-Assets) license, which will provide access to 30 countries in the European Economic Area.

However, the exchange continues to face challenges in other countries. In Malaysia, the local regulator demanded the cessation of operations due to non-compliance with regulations, and in India, the exchange temporarily suspended operations, but was then able to resolve the situation by paying a fine of $1 million.

Despite this, Bybit continues to move towards compliance with European regulation. Previously, the exchange’s competitors, including Bitget, OKX and Crypto.com, had already received a MiCA license, which allows them to operate freely in the EU.

Key points

• Bybit has been removed from the Autorité des Marchés Financiers (AMF) blacklist.
• The exchange is seeking to obtain a MiCA license to operate in the European Economic Area.
• Bybit previously suspended operations in France to comply with regulatory requirements.
• The company continues to face challenges in other countries, including Malaysia and India.