Quantcast

Bybit to end withdrawal and custody services for French users by January 2025

CRYPTO NEWS AROUND THE GLOBE
Crypto cybercrime in France: what tools to fight?
Crypto: Despite gloomy forecasts, Europe shows high optimism rate
Web3 Distributed AI Training Network PublicAI Raises $2M in Seed Funding Round
Robot trading: The best trading bots (2024)
Approval of Bitcoin ETFs: CFTC President calls for more regulation of cryptocurrencies
Bitcoin ETF: for Coinbase, this is the start of a major movement
French startup Sun Zu Lab raises $2 million with backing from Tim Draper
Coinhouse, the French crypto platform lowers its prices
Swiss regulator approves first tokenization platform accessible to individuals
The Bank of Banks (BIS) accelerates on tokenization and CBDCs
Le réseau social X agite DOGE et SHIB avec un compte 'Payments'
Are cryptocurrency payments on X coming soon?
FTX to be investigated by independent examiner
Exchanges between cryptocurrencies and stablecoins soon taxed in France? (cryptoast.fr)
Crypto: Europe is forging its digital future
Bloomberg analyst estimates 70% chance of Coinbase winning SEC case
Binance is investing in these projects, why not you?
Bitcoin ETFs now hold nearly $4 billion in assets
Bitcoinference 2024: a key meeting to learn about and discuss Bitcoin
Crypto crime falling sharply in 2023, but stablecoins dominate, says Chainalysis
Deal on a single rulebook against money laundering and terrorist financing
"ECB to Cut Rates This Summer"
Europe: crypto companies will have to watch for transactions above €1000
Gemini, the Winklevoss crypto exchange, is coming to France
In Europe, MiCA is increasingly attracting crypto investors
Circle CEO predicts US stablecoin law for 2024
Gemini obtains VASP approval in France: CNBC
Cryptocurrencies: the European Banking Authority “harmonizes” the PSAN sector
The major crypto trends of 2024 according to Binance Research
Crypto fintech Ripple discusses IPO abroad
All Crypto News Around The Globe
Bybit to end withdrawal and custody services for French users by January 2025
Web3/Crypto
Webp bybit
Ben Zhou, CEO of Bybit | bybit.com

Bybit has announced the cessation of withdrawal and custody services for French nationals and residents, attributing the decision to regulatory changes in the French Territories. The announcement was made on Bybit's website on December 17.

According to Bybit, users must withdraw their assets by January 8, 2025. Accounts with balances of 10 USDC or less will incur a 10 USDC fee before being closed. Balances exceeding 10 USDC will be converted to USDC and transferred to Coinhouse, a French crypto-asset platform. Users will need to complete identity verification with Coinhouse to access their transferred funds. These changes follow previous restrictions implemented by Bybit in the region.

In May 2024, France's securities regulator, the Autorité des Marchés Financiers (AMF), issued a warning stating that Bybit was not registered as a digital asset provider in the country. The AMF indicated that Bybit was providing services illegally, leading to increased regulatory pressure on the exchange within France.

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.

Bybit announced on X in September 2023 that it would suspend its services in the United Kingdom due to regulatory changes. This decision was influenced by the UK's evolving regulatory landscape, compelling Bybit to cease operations to remain compliant with local laws.

According to Datanyze, Bybit was founded in March 2018 and is a cryptocurrency exchange headquartered in Singapore. The platform offers spot and derivatives trading, mining and staking products, an NFT marketplace, and API support for retail and institutional clients. Bybit employs 980 staff members and reports an annual revenue of $505.3 million. It partners with organizations such as Oracle Red Bull Racing, NAVI, Astralis, Borussia Dortmund, and Avispa Fukuoka.

More News

Blockchain lawyer: 'Crypto’s broader purpose' is restoring 'non-commercial third spaces'

Florian Glatz, a blockchain lawyer, has suggested that 2024 may mark the peak of "skeuomorphism" in the cryptocurrency sector.

Apr 23, 2025

Bank of England publishes April FPC meeting record on cryptoasset and stablecoin markets

The Bank of England has released the minutes from its Financial Policy Committee (FPC) meetings held on April 4 and 8, 2025.

Apr 23, 2025

Director of enforcement for FCA on crypto regulation: We are helping 'get the future rules right'

Therese Chambers, joint executive director of enforcement at the Financial Conduct Authority (FCA), said that the agency is "engaging with" government, industry, consumers, and regulators to enhance oversight of cryptocurrency and market abuse.

Apr 22, 2025

BaFin issues warning on Timebtc Group for unauthorized financial and crypto services

The German Federal Financial Supervisory Authority (BaFin) has issued a warning regarding Timebtc Group, which is offering financial, investment, and cryptocurrency services without the necessary authorization.

Apr 21, 2025

CNMV announces warnings on unregistered financial and crypto entities

The Comisión Nacional del Mercado de Valores (CNMV) announced it had issued warnings about unregistered financial and crypto entities operating without proper authorization.

Apr 21, 2025

AMF follows EBA guidelines on restrictive measures for crypto-asset providers

The Autorité des Marchés Financiers (AMF) has announced its adherence to the European Banking Authority's (EBA) guidelines on restrictive measures for crypto-asset service providers, aimed at combating money laundering and terrorism financing.

Apr 21, 2025

Crypto Comments
Loading...

No comments available.

Trending
1

CNMV issues warnings on unregistered financial and crypto entities