- Bybit resumes trading services in the U.K. after a two-year absence.
- The restart follows regulatory challenges from the Financial Conduct Authority’s rules on crypto marketing.
- Bybit operates via a partnership with London-based Archax, a licensed crypto exchange.
- The U.K. government plans to create a formal crypto regulatory framework by 2027.
- Bybit aims to offer new products while maintaining compliance with FCA standards.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has relaunched its services in the United Kingdom after withdrawing two years ago due to stricter regulations. The exchange resumed operations on Thursday, including spot trading on over 100 currency pairs.
The return follows changes in the regulatory environment, as the U.K.’s Financial Conduct Authority (FCA) imposed strict rules on the advertising and marketing of crypto services from October 2023. These rules caused several crypto firms to leave the market. However, the government has signaled plans to develop a comprehensive cryptocurrency regulatory framework by 2027.
According to Mykolas Majauskas, senior director of policy at Bybit, “The UK is home to one of the most sophisticated financial ecosystems in the world, and its clear regulatory direction makes it an ideal environment for responsible innovation.” He added that the company plans to introduce new products tailored to U.K. users within a transparent and compliant framework.
While Bybit itself is not licensed in the U.K., it operates under standards designed to meet the FCA’s financial promotion requirements. The exchange markets and delivers its services through Archax, a London-based crypto exchange with a special FCA license that permits it to approve financial promotions from companies without their own authorization.
Ben Brown, chief compliance officer at Archax, email-stated, “Archax is supporting Bybit’s compliant access to the UK market, building on our experience where we have previously helped other leading crypto exchanges, such as Coinbase and OKX, access the UK market without the need for their own authorisation.”
This partnership enables Bybit to provide crypto trading opportunities to U.K. consumers while aligning with regulatory demands aimed at protecting investors and ensuring market transparency.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Critical DMA Boot Vulnerability Hits ASRock, ASUS, GIGABYTE, MSI Boards
- Central Banks Hoard Record 9500 Tonnes of Gold as Prices Soar
- Arthur Hayes: Yen Could Hit $200 as BOJ Hikes Rates to 0.75%
- Euro Stablecoins Double in Value After MiCA Regulation, Transaction Volumes Jump 899%
- Senior IcomTech Promoter Gets 71 Months for Crypto Ponzi Scheme
