Bybit has been conflicting with the French government since 2022 and has formally withdrawn from the French market.
Many nations are developing their perspectives on cryptocurrencies and how to regulate them amid a lack of regulations.
In Western Europe, France, a country with a rich heritage and culture, has implemented significant regulatory changes about cryptocurrency.
Subsequently, Bybit, the leading crypto exchange, has announced its withdrawal from the country.
Bybit Will Not Support Buying And Selling In France
Bybit has been conflicting with the French government since 2022 and has formally withdrawn from the French market.
However, the crypto exchange has promised a comeback once it meets the country’s new crypto standards.
On August 1, 2024, the official announcement of service suspension was issued, informing the discontinuity of Bybit from France, effective August 2.
With this discontinuity, Bybit has restricted users’ accounts to a “Close-Only” mode, which means that no new positions may be opened or added, nor can products be purchased.
This restriction is applicable to all products offered by Bybit, including the One-Click Buy, Bybit Card, P2P, all Spot products, all Derivative products, Copy Trading, Trading Bot, Bybit Earn, and Bybit Structured Products.
Simultaneously, Bybit prohibits all deposits, effectively halting its operations in the country.
Crypto Exchanges To Explore After Bybit
Bybit’s departure resulted in a significant shift in the landscape for cryptocurrency traders in France, as the company had a stronghold in the French market.
However, French users have many alternatives to continue their cryptocurrency trading activities, as numerous other reputable exchanges are available.
Binance, Bitget, Kraken, LiteBit, and Coinhouse are among the exchanges that offer users diverse features and robust platforms, thereby ensuring that they can identify the most suitable option for their needs.
