Bybit, a major cryptocurrency exchange, has officially been removed from France’s Autorité des Marchés Financiers (AMF) blacklist. This marks a crucial step in the company’s efforts to comply with European regulatory standards after more than two years of cooperation with French authorities.
Bybit’s Regulatory Journey in France
In May 2022, the AMF blacklisted Bybit for operating without proper authorization, warning investors about its non-compliance with local financial laws. In response, Bybit ceased services for French users in 2024, including withdrawal and custody services by January 2025. This decision was part of a broader strategy to engage constructively with regulators and restructure its operations to meet compliance standards.
Bybit’s CEO, Ben Zhou, announced the AMF’s decision on February 14, 2025, stating, “After more than two years of working with the French regulator through multiple remediation efforts, BYBIT is now officially removed from France AMF blacklist.” The milestone underscores Bybit’s commitment to adhering to financial regulations and strengthening its presence in the European market.
Next Steps: MiCA License and European Expansion
With its regulatory status in France resolved, Bybit is now focused on obtaining a Markets in Crypto-Assets (MiCA) license. The MiCA framework, introduced by the European Union, aims to standardize cryptocurrency regulations across member states. Securing this license would allow Bybit to operate legally throughout the European Economic Area, providing greater security for investors and enhancing the company’s credibility.
Bybit’s Global Regulatory Challenges
Bybit’s compliance journey extends beyond France. The exchange has encountered regulatory hurdles in multiple countries:
- Malaysia: The Securities Commission ordered Bybit to halt operations due to non-compliance.
- India: Bybit initially suspended services following regulatory scrutiny but later secured a local license after paying a $1 million fine.
These challenges highlight the complex and evolving regulatory landscape for cryptocurrency exchanges worldwide.
Bybit’s successful removal from the AMF blacklist signals a proactive shift toward regulatory compliance. Its pursuit of a MiCA license aligns with a broader strategy to build trust with authorities and users. As the cryptocurrency industry matures, Bybit’s case exemplifies the importance of adaptability and engagement with regulators to ensure long-term growth in the global financial ecosystem.
