Bybit Resumes Operations in the UK with 100 Crypto Trading Pairs
- Bybit has returned to the U.K. after a two-year hiatus due to regulatory changes.
- The exchange now offers spot trading on 100 currency pairs.
- The Financial Conduct Authority (FCA) introduced stricter rules in October, prompting many firms to exit.
- Bybit operates under a framework designed to meet FCA standards, partnering with Archax for compliance.
- Archax holds a special license that allows it to approve financial promotions for unauthorized firms.
Bybit’s return signifies a potential shift in the U.K.’s approach to cryptocurrency regulation, especially as the government plans to establish a comprehensive crypto rulebook by 2027. This move may encourage more exchanges to consider re-entering the market under compliant frameworks.
With around 80 million users globally, Bybit’s re-entry into the U.K. market could reshape local trading dynamics as it adheres to new regulatory standards through its partnership with Archax. (Source)
