According to The Block, the cryptocurrency exchange Bybit has officially announced that Chinese users living overseas can open accounts and use its services on Bybit. Bybit stated that this move is to meet the growing demand of Chinese expatriates and the international Chinese community for a secure, reliable, and user-friendly cryptocurrency trading platform. Overseas Chinese users can now register and open accounts on the Bybit platform, enjoying the same benefits as existing users. Bybit also mentioned that they are committed to complying with all applicable regulations in the markets they operate in, and they hope to eventually expand business in Hong Kong, the United Arab Emirates, and the European Union.
Previously reported, the Hong Kong Securities and Futures Commission included Bybit’s application in the list of applicants whose license applications have been withdrawn, rejected, or withdrawn on May 31, indicating that Bybit has withdrawn its application for a license in Hong Kong. According to industry sources, the reason why several offshore exchanges are giving up Hong Kong licenses is due to Hong Kong’s requirement to clear out mainland Chinese users.
Bybit also withdrew from the Canadian and UK markets last year due to regulatory reasons.
Bybit
China
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