Key Takeaways
·
Bybit back in UK
as the crypto exchange resumes operations for British users.
·
The Bybit Exchange relaunch includes more than 100 crypto trading
pairs.
·
The return
follows regulatory adjustments tied to UK financial promotion rules.
Bybit back in UK as the crypto trading platform on Tuesday relaunched
its services for British users, offering access to more than 100 digital asset
trading pairs after a temporary withdrawal tied to regulatory changes. The relaunch
comes as crypto firms adapt to the UK’s updated financial promotion regime,
which tightened rules on how digital asset services can be marketed to
consumers. Bybit said it has updated its compliance framework to meet local
requirements.
Bybit suspended
services for UK customers in October after the Financial Conduct Authority
introduced stricter rules governing crypto promotions, including mandatory risk
warnings and limits on incentives. Several offshore exchanges exited the market
rather than adjust their operations.
“Reentering the
UK reflects our commitment to operating in regulated markets,” a Bybit
spokesperson said. “We have worked to align our platform with the FCA’s
expectations.”
The exchange
said UK users will be able to trade spot crypto pairs including bitcoin, ether,
and major stablecoins, as well as access fiat on-ramps through approved payment
partners.
Bybit did not
disclose how many UK customers it expects to onboard following the relaunch.
The company said trading will be limited to products permitted under current UK
rules, excluding certain derivatives and leverage-based offerings.
“Consumer
protection remains a priority,” the spokesperson said. “Our UK platform focuses
on transparency, disclosures, and appropriate safeguards.”
Founded in
2018, Bybit is among the world’s largest crypto exchanges by trading volume,
serving users in more than 160 countries. The company is headquartered in Dubai
and employs more than 3,000 staff globally, according to corporate filings.
The UK has
sought to position itself as a global crypto hub while increasing oversight
after a series of high-profile industry failures. The FCA has warned that many
crypto promotions still fail to meet compliance standards.
“Firms entering
or reentering the UK market face a high bar,” said David Geale, executive
director of payments and digital finance at the FCA, in a recent speech.
“Compliance is not optional.”
Industry
analysts said Bybit’s return signals that some offshore platforms see long-term
value in the UK market despite tighter rules.
“The UK remains
attractive due to its deep capital markets and retail participation,” said
James Butterfill, head of research at CoinShares. “Firms willing to adapt can
still operate.”
Trading volumes
across UK-based crypto platforms have stabilized in recent months after an
initial drop following the FCA’s rule changes. Data from analytics firm Kaiko
showed spot trading activity rebounded in the second quarter as compliant
platforms resumed marketing.
Bybit said it
has implemented enhanced know-your-customer checks and updated risk disclosures
for UK users. The exchange declined to comment on whether it plans to seek
further licenses or approvals in the country.
The relaunch
also comes as global regulators continue to debate how to supervise crypto
exchanges operating across borders. The UK Treasury has proposed legislation
that would bring crypto trading venues under the same regulatory perimeter as
traditional financial markets.
“These
frameworks are still evolving,” said Butterfill. “Companies that invest early
in compliance may gain an advantage.”
Bybit said it
plans to monitor regulatory developments closely and adjust its UK offering as
rules change.
What’s Next
Market
participants will watch whether other offshore exchanges follow Bybit’s lead
and return to the UK under the updated rules. The FCA is expected to publish
further guidance on crypto promotions later this year.
Analysts said user adoption will depend on product
breadth and ease of access under the tighter regime. For now, Bybit’s return
adds competition to a UK market dominated by a smaller group of compliant
crypto platforms.