Quantcast

Blockchain Consultant on Bybit France closure: 'we can’t sell our tokens to get our funds back'

Crypto exchange OKX wants to go public on Wall Street
Federal Reserve removes 'reputational risk' from bank examinations in a 'win' against crypto debanking
India wants 30% of your crypto gains, but that’s not the worst part
This payment giant announces a stablecoin for 6 million merchants and 10,000 financial institutions
Bitcoin at $21 million by 2046? Michael Saylor revises his predictions upwards
JPMorgan files trademark application for JPMD, citing multiple blockchain use cases
Geopolitical tensions: Gold soars, Bitcoin hesitates
Bitcoin on the rise, towards a new ATH likely
Gemini, Coinbase expected to secure EU licenses under MiCA — Report
Justin Sun lance une Tron Treasury Company avec le soutien de la famille Trump
Negative Rates Return to Switzerland as U.S. Faces Higher Yields. What Does it Mean for Bitcoin?
300 million euros: The Blockchain Group continues to raise funds to accumulate as many Bitcoins as possible
Quintenz says CFTC will need more funding if tasked with broader crypto oversight
These cryptocurrencies are experiencing a massive price increase!
This project combining stablecoin and Bitcoin (BTC) raises $500 million in less than an hour
Hong Kong's OSL eyes Indonesia expansion with $15 million crypto exchange acquisition
FCA-registered BCP launches British pound stablecoin
Crypto: Ripple's RLUSD stablecoin will now also be used in the United Arab Emirates
Robinhood completes $200 million acquisition of crypto exchange Bitstamp
Changpeng Zhao offers a dark pool-style DEX for invisible crypto orders
End of tariffs? Judge blocks Trump's Liberation Day
The TACO trade is gaining popularity; what is it?
B2B stablecoin payments surge to $36 billion annual pace, survey finds
Russian banks debut crypto products for qualified investors
Reserve Bank of India to roll out new use cases for digital rupee
Bitcoin creator becomes richer than Bill Gates
EU revises growth downwards to 0.9% in 2025, weighed down by Donald Trump's customs duties
United Kingdom: Crypto firms will have to report all customer transactions
Ethereum on the brink of an incredible surge? This expert's bold prediction
DOJ is investigating Coinbase data breach— Report
Blockchain Consultant on Bybit France closure: 'we can’t sell our tokens to get our funds back'
Web3/Crypto
Webp cryptomedic
Stéphane Rodriguez, Blockchain Consultant | x.com

Blockchain consultant Stéphane Rodriguez has reported that users of the cryptocurrency exchange Bybit in France are unable to sell their tokens to recover funds before the platform's account closure. This statement was posted on X, formerly known as Twitter, on December 17.

"@Bybit_Official is closing all French accounts in 3 weeks, but we can't sell our tokens to get our funds back," said Rodriguez. "Well thanks @EU_Commission , you're going to make thousands of citizens lost funds. You're NOT protecting us. You're CONTROLLING US."

Rodriguez, who is also known as CryptoMedic on X, expressed concerns about Bybit's decision to close all French accounts within three weeks. He said that users "can’t sell our tokens to get our funds back," attributing the situation to European Union laws. "You’re NOT protecting us. You’re CONTROLLING US," he said.


Stéphane Rodriguez's X post | https://x.com/_cryptomedic_/status/1869060661822779898

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.

In response, Bybit issued a press release explaining its decision to end services for French users due to regulatory changes. The company emphasized its commitment to compliance with relevant rules and regulations. "It has always been Bybit's primary objective to operate our business in compliance with all relevant rules and regulations," the statement read. Due to recent developments by the French regulator, Bybit announced it would no longer provide withdrawal and custody services to nationals or residents of the French Territories. The company advised users to withdraw assets before January 8, 2025, warning that after this date, assets would be transferred to Coinhouse, a regulated French crypto-asset platform, which may result in custody fees or termination charges.

The Autorité des Marchés Financiers (AMF), France's securities regulator, had previously issued a warning in May 2024 stating that Bybit was not registered as a digital asset provider in France and was operating illegally. This led to increased regulatory scrutiny on the exchange within the country.

According to Blockpit's analysis of Europe's safest licensed crypto exchanges, Binance ranks first due to its regulation across multiple European countries and employment of AES-256 encryption alongside funding for the Secure Asset Fund for Users (SAFU) program for user protection. Coinbase ranks second with 98% of assets held offline and is licensed by BaFin in Germany while using advanced security measures. Kraken ranks third by storing 95% of assets in cold wallets and complying with regulations across the EU and other regions.

Stéphane Rodriguez is based in Pessac, Nouvelle-Aquitaine, France, where he operates under the brand Cryptomedic. He provides Web3 consulting services focusing on blockchain applications, non-fungible tokens (NFTs), and the metaverse. With over four years of freelance experience, Rodriguez assists businesses across various sectors—such as finance, healthcare, and logistics—in understanding and integrating blockchain technology. He also hosts the Explorateur Crypto podcast discussing blockchain trends and developments.

More News

Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), said that public companies increased their bitcoin holdings more rapidly than exchange-traded funds (ETFs) in the second quarter.

Jul 5, 2025

CoinFlip, a global digital currency platform, has announced the launch of a new user interface for its CoinFlip Preferred service.

Jun 30, 2025

Gum Shoe, a crypto influencer, has highlighted the long wait times and high fees at Coinbase compared to better service at Binance as evidence of the need for increased competition among U.S. crypto exchanges.

Jun 23, 2025

Changpeng "CZ" Zhao, founder of Binance, said that practical education data from his Giggle Academy learning platform will connect young learners to job opportunities instead of focusing on degrees.

Jun 23, 2025

Farid Mahmoodi, a crypto trader and whistleblower, has raised serious allegations against the cryptocurrency exchange Bitget.

May 29, 2025

The Financial Conduct Authority (FCA) has issued a warning regarding Codex Finance, which is allegedly offering financial and crypto-related services without proper authorization.

May 22, 2025