Bybit, a global cryptocurrency exchange, has resumed operations in the United Kingdom (UK) after a two-year absence, offering 100 spot trading pairs and a peer-to-peer trading platform. The exchange had withdrawn from the UK in 2023 amid stricter Financial Conduct Authority (FCA) regulations on crypto promotions and marketing.
Return Through Local Partnership
Instead of securing its own FCA license, Bybit is operating in the UK through a partnership with Archax, a London-based firm authorized by the FCA.
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The arrangement allows Bybit to comply with local rules while offering trading services, though it excludes derivatives and leveraged products from the UK platform.
Users are required to complete know-your-customer (KYC) procedures, and the platform provides standard risk disclosures consistent with FCA guidance.
Trading Restrictions and Regulatory Context
Bybit’s re-entry reflects the evolving regulatory landscape for crypto in the UK, where authorities have emphasized consumer protection and compliance oversight. The FCA has set limits on high-risk crypto products and continues to monitor exchanges to ensure adherence to anti-money laundering (AML) and marketing regulations.
Industry observers note partnering with a licensed local firm instead of obtaining a direct license may serve as a model for other international exchanges seeking regulated market access without full UK registration.
While the platform restores trading access for UK users, long-term compliance and user protections remain central concerns.
Bybit is considered one of the top global crypto exchanges by trading volume, often ranking in the top 10 for derivatives and spot trading.
Why This Matters
Bybit’s return demonstrates how global crypto exchanges are adjusting to regulatory requirements while seeking to maintain market presence.
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People Also Ask:
Bybit is a global cryptocurrency exchange offering spot trading, derivatives, and peer-to-peer (P2P) trading. It ranks among the top exchanges worldwide by trading volume.
Bybit exited the UK in 2023 due to stricter Financial Conduct Authority (FCA) regulations on crypto promotions, marketing, and high-risk products for retail investors.
Bybit has returned through a partnership with Archax, a London-based FCA-authorized firm, rather than obtaining its own UK license.
No. Bybit does not operate in the United States due to regulatory restrictions and does not hold U.S. licenses or registrations.
