Bybit, a global cryptocurrency exchange, has announced that it will cease its withdrawal and custody services for French users as of January 8, 2025. This decision comes as a result of increasing regulatory pressure from French financial authorities.

Users are encouraged to withdraw their funds before the specified date to avoid issues with account access or fund transfers. Bybit will transfer any unclaimed assets over 10 USDC to Coinhouse, a licensed crypto custodian in France.

This development is a reflection of the increasing regulatory pressure on global crypto exchanges. Share your views in the comments.