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Cryptocurrency exchange Bybit has announced that, as part of its regulatory compliance process in the European Economic Area (EEA), it will gradually restrict access to some of the services offered on its global platform for users in the region.
The company stated that affected users would be notified in advance before the restrictions go into effect and that users would be able to maintain access to the assets held in their custody accounts.
Bybit announced that timelines for managing current and new positions for users residing in the EEA will be shared in advance. The company emphasized that users will continue to have access to assets held in their accounts during the transition period, and that further information will be provided through official channels in the coming period.
The regulation in question covers users residing in Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden. Bybit stated that Malta is not included in this process because Bybit EU licenses have not yet been extended to that country and services are not actively offered in Malta.
The company also stated that it conducts its regulated operations in Europe through its MiCA-licensed entity, Bybit EU. Furthermore, it was mentioned that Bybit EU is working to obtain an additional license in Austria to cover a wider range of products.
*This is not investment advice.