A bybit, one of the leading cryptocurrency exchanges, announced on March 28 the launch of its digital asset platform on The Netherlands, which is titled as Bybit.nl. The expansion of Bybit's operations in Europe comes after the company recently faced regulatory scrutiny by the industry regulator in Hong Kong.
“Bybit, one of the world's top three cryptocurrency exchanges by trading volume, today proudly announces the launch of its regulated digital asset platform – Bybit.nl in the Netherlands. This strategic move is a result of Bybit's continued commitment to providing top-notch services to users while adhering to regulatory guidelines. Bybit solidified its partnership with SATOS in June 2023, laying the groundwork for today’s exciting announcement.”
Bybit highlighted in its recent announcement that aims to establish a trusted trading environment for Dutch users by offering a diverse range of financial products and trading tools.
“We are excited to launch our regulated digital asset platform in the Netherlands, reinforcing our commitment to serving users while maintaining regulatory compliance,” said Ben Zhou, co-founder and CEO of Bybit. “Through our partnership with SATOS, we aim to provide Dutch users with a secure and seamless trading experience, backed by industry-leading security measures and unparalleled support.”
Hong Kong regulator issues warning against Bybit operations
The Securities and Futures Commission (SFC) of Hong Kong issued, on March 14, a alert related to Bybit operations. According to the statement, the Bybit platform operates without the necessary licensing in the region.
The SFC reported that it published Bybit on the alert list of suspicious virtual asset trading platforms and its crypto-related products on the alert list of suspicious investment products, on March 14, 2024.
