Bybit Halts Crypto Trading Services for European Economic Area Users
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Bybit will halt crypto trading services for users residing in the European Economic Area.
Crypto-focused media outlet Odaily reported on June 29 that Bybit would stop providing crypto trading services to EEA residents starting that day.
The exchange plans to direct affected users to migrate to a legal entity licensed within the European Union.
The move appears aimed at restructuring its business to comply with Markets in Crypto-Assets, or MiCA, Europe's crypto regulatory framework. Bybit plans to continue serving local users through an EU entity that meets MiCA requirements.
MiCA is the EU's unified regulatory framework for crypto assets. It sets licensing and operating requirements for crypto businesses, including exchanges and stablecoin issuers.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.