Bybit faces potential legal action in France for regulatory non-compliance
Summary
French financial regulator AMF has warned investors that Bybit is not authorized to provide digital asset services in France. Bybit, the third-largest crypto exchange by trading volume, has been blacklisted since May 2022 for failing to comply with local regulations. The AMF may pursue legal action, potentially leading to the blocking of access to the exchange's website. Investors are advised to take measures to safeguard their assets in case the platform ceases operations in France. This regulatory action aligns with France's broader efforts to establish comprehensive regulations for crypto businesses. Bybit has not responded to the regulator's warning.
