Quantcast
CRYPTO NEWS AROUND THE GLOBE
Nigeria releases Binance exec from custody after money laundering charges are dropped in surprise decision
Chainalysis report analyzes global trends in crypto adoption
How BlackRock helped Bitcoin get its mojo back
The SEC authorizes the NYSE and CBOE to offer spot Bitcoin (BTC) ETF options trading
The Crypto Town Hall: 'Binance Blockchain Week 2024: A powerhouse event for crypto innovation'
Stripe in $1.1B Acquisition Deal for Stablecoin Platform Bridge
EigenLayer’s official X account hacked to promote fake airdrop
XRP : A 30% risk of losses as a result of the’appel of the SEC against Ripple
Stripe is well on its way to acquiring Bridge, a fintech specialist in cross-border payments in stablecoins
Former chief of IRS - Criminal Investigations: Ex-U.S. government agent 'without a doubt, is being held captive in a Nigerian prison'
Jailed Binance exec’s Nigeria trial postponed after he fails to come to court ― ‘He’s very sick’
Trump-Touted Crypto Website Crashes as Token Sale Goes Live, With Just 1.7% of Target Sold
How Coinbase’s Base dethroned Arbitrum as top Ethereum layer 2
MiCA: 67% of euro stablecoins now comply with the new directives
Is Elon Musk Selling Bitcoin? Tesla Transfers All $760M of Its BTC to Unknown Wallets.
BTC's Trendline Breakout Exposes $70K Hurdle, ETH Holds 200-Day Average
Google weekly relative search volume for 'bitcoin' hits lowest level in a year
The 15 years of Bitcoin immortalized thanks to The Bitcoin Masterpiece, by Frederic Imbert
UK, Colombia crypto exchanges linked in TD Bank record fine
For Millennials, Bitcoin Is the New Real Estate
Binance exec Tigran Gambaryan again denied bail in Nigeria despite 'clear evidence of medical requirement,' family says
Ripple (XRP) goes on the offensive after the SEC appeals the court ruling against it
Binance exec’s bail plea dismissed on technicality
BloFin impresses at the’ event TOKEN2049 Singapore with its clear vision for rapid expansion
Crypto.com sues SEC amid agency threats over Solana, Binance, Cardano tokens
Former Bitcoin developer points out missing detail undermining HBO's claim that Peter Todd is Satoshi
AI startups draw record $11.8B funding in Q3
Former Bitcoin Dev Peter Todd Denies He's Satoshi Hours Before HBO Documentary Airs
OpenAI, the creator of ChatGPT, will open an office in Paris this year
Crypto Custody Firm Copper’s CEO Dmitry Tokarev Plans to Step Down
All Crypto News Around The Globe

Bybit to stop providing products and services to residents of France

Web3/Crypto
Webp zhou
Ben Zhou, co-founder and CEO, Bybit | Ben Zhou, X account

Crypto exchange Bybit has decided to stop offering its products and services to French nationals and residents, citing "recent regulatory developments" from French regulators.

According to an August 1 letter to its clients, Bybit informed its French users that, effective August 2, their accounts will be restricted to "Close-Only" mode. In this mode, users cannot open or add any new positions or purchase any products. This restriction applies to all of Bybit’s products, such as One-Click Buy, Bybit Card, P2P (peer-to-peer), all Spot products, all Derivative products, Copy Trading, Trading Bot, Bybit Earn, and Bybit Structured Products. The company said all deposits to their accounts will also be restricted.

Effective August 13, any remaining open positions across all products will be liquidated. It will also suspend all card services beginning on that date. French clients will only be able to withdraw assets and funds from their accounts.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

"We apologize for any inconvenience this may cause and appreciate your support and cooperation as we step up our efforts to meet regulatory requirements," the company stated in the letter. "We look forward to serving you again in the near future once the appropriate licenses allowing us to do so have been secured."

According to CoinDesk, Bybit has been blacklisted by France’s financial regulatory Autorité des Marchés Financiers (AMF) since May 2022. France is among 27 nations in the European Union that have been enforcing the EU's new Markets in Crypto Asset (MiCA).

More News

European banking authority issues new guidelines for crypto providers to comply with restrictive measures

On November 14, the European Banking Authority (EBA) released comprehensive guidelines for Payment Service Providers (PSPs) and Crypto-Asset Service Providers (CASPs) to ensure alignment with European Union (EU) and national restrictive measures. These guidelines aim to reduce risks and strengthen compliance when transferring funds or crypto assets.

Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.

Nov 22, 2024

OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.

Nov 20, 2024

UK’s digital assets bill brings much-needed clarity to digital asset regulation

On November 6, the UK government issued an updated version of the Property (Digital Assets Etc.) Bill, clarifying its approach to defining digital assets, including crypto tokens, as recognized property under English law. The update aims to provide greater security and clarity for individuals and businesses engaging with digital assets.

Nov 20, 2024

Outlier Ventures CCO: People may use a 'more efficient, much less costly system to achieve the same user benefit'

Matt Law, Chief Commercial Officer at Outlier Ventures, said that it would not "surprise" him if many people embrace "more efficient," cost-effective systems like tokenization to gain the "same user benefit."

Nov 16, 2024

Crypto Comments
Loading...

No comments available.

Trending
1

MANTRA CEO: 'Institutional adoption of tokenization already has significant product-market fit'

2

Outlier Ventures CCO: People may use a 'more efficient, much less costly system to achieve the same user benefit'

3

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

4

UK’s digital assets bill brings much-needed clarity to digital asset regulation

5

OpenAI chooses Paris as its new home base