Bybit exchange announced its withdrawal from the French crypto market

Cryptocurrency exchange Bybit has announced it is leaving the French market. According to the press release, starting August 2, 2024, local users will not be able to open new positions or purchase any assets.

The company noted that the termination of the provision of services is due to regulatory difficulties. The platform was unable to obtain a license in accordance with the new rules and for this reason Bybit is curtailing all operations.

Bybit representatives noted that the winding down of operations will occur in several stages. We mentioned the first at the beginning of the article, and the second phase will come into force on August 13, 2024. Starting from this date, the exchange will liquidate all open positions, and users will only be able to withdraw funds, blocking all other functions.