Policy & Regulation

Bybit removed from AMF blacklist, eyes MiCA compliance for EU growth

Published

9 months ago

February 15, 2025

Bybit removed from AMF blacklist, eyes MiCA compliance for EU growth

Bybit CEO Ben Zhou has confirmed that the Crypto alternate is now not on the blacklist of the monetary regulator of France, the Autorité des Marchés Financiers (AMF).

This follows greater than two years of involvement with the regulator to deal with compliance issues.

In a put up of February 14 on X stated Zhou:

“After greater than 2 years of working with the French regulator on account of a number of remediation efforts, Bybit is now formally faraway from France AMF -black checklist.”

Bybit stood for regulatory challenges in France, which led to the suspension of its actions within the nation in 2024.

On the time, the AMF buyers warned that the platform was not registered and even thought of authorized steps due to his non-compliance.

Mica Comilition

After the removing of the blacklist, Bybit is now engaged on acquiring a markets in crypto-assets Regulation (MICA) license for actions within the European Union.

Mica, which got here into drive this yr, is the primary intensive crypto -regulating framework of the area.

It establishes uniform guidelines for crypto firms, improves the safety of shoppers, the prevention of market manipulation and guaranteeing compliance with rules.

Varied giant crypto firms, together with Crypto.com, Coinbase, Gemini, MoonPay, Kraken and OKX, have obtained the required licenses to proceed to function European customers.

Adjustment to the institutional query

Within the meantime, Bybit additionally restructures his commerce companies by migrating the platform of the choices to Tether’s USDT. The transfer is meant to stimulate liquidity and meet the wants of institutional merchants.

READ Coinbase makes history with EU-wide crypto license under MiCA

Zhou emphasised that the transition was pushed by the market demand to a extra steady and extra environment friendly commerce surroundings.

USDT, the biggest stablecoin with a market capitalization of greater than $ 140 billion, is broadly utilized in crypto buying and selling due to the liquidity and worth stability.

The shift from Bybit to USDT -based choices commerce is anticipated to draw institutional buyers who’re searching for improved market effectivity.