Bybit, a prominent cryptocurrency exchange, has launched Shariah-compliant crypto accounts tailored for Muslim investors. This move aims to cater to the growing demand for financial products that adhere to Islamic law, which prohibits certain types of investments and interest-based transactions.

Despite this innovative step, the broader cryptocurrency market continues to face significant regulatory challenges and skepticism from global financial authorities. The introduction of Shariah-compliant accounts may attract a niche segment, but it is unlikely to offset the overarching regulatory pressures and market volatility that currently plague the industry.