ByBit to Stop Providing Products in France

IconCryptoNewsTerminal Staff01 Aug, 2024

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ByBit to Stop Providing Products in France

In response to a previous warning from the French Financial Markets Authority (AMF), ByBit has announced that it will no longer offer its services or products in France. The AMF issued a statement in May stating that ByBit was not registered in France and that legal action could be taken to block the site. ByBit is a cryptocurrency exchange that has been operating since 2018. The company is headquartered in Singapore and has offices in several other countries, including the United States, Japan, and South Korea. ByBit offers a variety of trading products, including spot trading, futures trading, and options trading. The AMF's warning comes as part of a crackdown on unregistered cryptocurrency exchanges in France. The AMF has previously issued warnings to other exchanges, including Binance and Coinbase. It is unclear what impact ByBit's decision to stop providing services in France will have on the company's business. ByBit is a major player in the cryptocurrency market, and its exit from France could hurt its overall growth.

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