Key Regulatory Shift for Bybit in France
Following a two-year presence on France's financial blacklist, cryptocurrency exchange Bybit has officially announced its withdrawal from the French market. In a press release, the Singapore-based platform stated it will terminate all services for French users effective August 2 to comply with regulatory requirements.
The phased exit includes:
- Automatic liquidation of all open positions (spot, derivatives, trading bots, structured products) by August 13
- Suspension of credit card services
- Exclusive withdrawal functionality for French clients
👉 Explore secure crypto trading alternatives
AMF's Persistent Warnings Against Bybit
France's Financial Markets Authority (AMF) had intensified its scrutiny months earlier:
- May 2024 public warning about Bybit's blacklisted status
- Highlighted operational risks since May 2022 listing
- Noted failure to register as Digital Asset Service Provider (DASP)
Contrasting Regulatory Approvals
Licensed Operators in France
Coinbase
- Registered as Virtual Asset Service Provider (VASP)
- Official confirmation
Circle
- Conditional DASP registration secured
- Recently obtained Electronic Money Institution (EMI) license
- First stablecoin issuer compliant with MiCA regulations
- Announcement details
Market Impact Analysis
The divergent regulatory outcomes demonstrate France's evolving compliance framework:
- Strict enforcement against non-compliant operators
- Structured pathways for registered entities
- Growing alignment with EU-wide MiCA standards
FAQ: Understanding France's Crypto Landscape
Q: Can French users still access Bybit after August?
A: Only for asset withdrawals—all trading services will be discontinued.
Q: What alternatives exist for French crypto traders?
A: Registered platforms like Coinbase and soon-to-be-licensed operators provide compliant options.
Q: How does MiCA affect stablecoin issuers?
A: It establishes EU-wide standards, with Circle becoming the first MiCA-compliant stablecoin provider.
Q: Why was Bybit targeted specifically?
A: Persistent non-compliance with DASP registration requirements since 2022.
Q: Are other exchanges at risk of French sanctions?
A: Any platform operating without proper registration faces potential enforcement action.
👉 Compare regulated crypto exchanges
Key Takeaways
- France maintains rigorous crypto oversight
- Regulatory clarity benefits compliant operators
- Market exits create opportunities for licensed platforms
- MiCA implementation reshaping EU crypto landscape
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