Cryptocurrency Q&A
Is Bybit legal in UK?
Is Bybit legal in UK?
HallyuHeroLegendaryStar
Sat Mar 30 2024
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7 answers
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I'm based in the UK and I've been hearing a lot about Bybit recently. It seems like a popular crypto derivatives exchange, but I'm a bit concerned about its legality here. I've done some googling, but the information is quite scattered and conflicting. Can you provide a clear answer: is Bybit legal in the UK? If it is, could you also explain the legal framework or regulations that govern its operations here? And if it's not legal, what are the consequences of using it? I'd appreciate it if you could provide some insights into this matter. Thanks!
7 answers
DaeguDivaDanceQueenElegantStride
Sun Mar 31 2024
However, due to the FCA's ban on cryptocurrency derivatives, UK residents are now prohibited from opening new accounts or trading on Bybit.
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InfinityEcho
Sun Mar 31 2024
Cryptocurrency trading and derivatives have become popular investment tools in recent years.
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Riccardo
Sun Mar 31 2024
This decision by the FCA has had a significant impact on the crypto trading community in the UK, as it limits their access to certain trading opportunities.
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CoinMaster
Sun Mar 31 2024
The Financial Conduct Authority (FCA) in the UK has implemented a ban on cryptocurrency derivatives, aiming to protect investors and maintain financial stability.
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SilenceStorm
Sun Mar 31 2024
In response to the FCA's ban, Bybit announced in March 2023 that it would discontinue its services to UK customers. This decision ensures compliance with the regulatory framework in the UK.
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