According to Techub News, the crypto trading platform Bybit will stop providing products or services in France. Starting from 16:00 on August 2, Hong Kong time, French users will not be able to purchase any type of products, open new positions, or add new positions.

All Bybit products, including Bybit Earn and all spot products are included in the restrictions. All remaining open positions of French users will be closed after 16:00 Hong Kong time on August 13. Only withdrawals of assets and funds will be allowed thereafter.

With the EU’s Markets in Crypto-Assets (MiCA) regulatory framework set to take full effect in December this year, it has become more difficult for crypto companies to obtain licenses in France. In a press release on Thursday, Bybit said: “In light of recent regulatory developments by French regulators, Bybit will cease providing our products and services to French nationals and residents. Once the appropriate licenses are obtained, we look forward to providing services again in the near future.”