CandleFocus Bybit pauses EEA operations due to changing regulations, anticipates compliance
2024-12-13
Author: Content Editor
Bybit, the second-largest cryptocurrency exchange, is temporarily adjusting its services in the European Economic Area (EEA) to comply with evolving regulations. The exchange is actively pursuing a Markets in Crypto-Assets Regulation (MiCAR) license in Austria to offer secure and compliant services in the EEA. In order to avoid potential breaches of reverse solicitation rules, Bybit has decided to cease communication with the EEA for now but existing users can still access their assets. Bybit intends to resume full engagement once the MiCAR license is secured. The exchange remains committed to its EEA clients and is actively working with regulatory authorities to streamline the licensing process.
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