Market News

Bybit Expands UK Presence with Resumption of Trading Services

Bybit has announced its return to the U.K. market after a two-year hiatus, reintroducing access to spot trading on approximately 100 cryptocurrency pairs for local users.

This move comes in the wake of new regulations imposed by the Financial Conduct Authority (FCA) that have redefined the landscape of crypto promotions in the U.K.

Rather than directly operating within the country, Bybit has opted to collaborate with Archax, a London-based exchange that is regulated by the FCA, to navigate the new promotional rules.

Since the FCA tightened its financial promotion regime in October 2023, many crypto firms suspended their UK operations, yet Bybit’s partnership allows it to legally market its services without obtaining a domestic license.

The decision to reenter the UK market is based on Bybit's commitment to transparency, compliance, and the need for clearer communication with its user base.

With about 80 million global users, this strategic move positions Bybit to capitalize on the U.K.'s sophisticated financial ecosystem.

Industry observers are optimistic, especially with the UK government signaling plans to establish a comprehensive crypto rulebook by 2027, expected to provide clearer operational guidelines.

Bybit's policy team anticipates introducing products specifically designed for UK users in compliance with regulatory standards.

As the landscape evolves, Bybit’s strategy may serve as a test case for how major crypto platforms can successfully operate in the U.K. under stringent promotional regulations.

The arrangement highlights the growing importance of partnerships in the crypto industry as firms seek to align with regulatory frameworks while expanding their services.