Bybit Off AMF Blacklist, Eyes EU MiCA License

Bybit, a leading cryptocurrency exchange, has been removed from France’s Autorité des Marchés Financiers (AMF) blacklist, marking a significant step in its efforts to comply with European regulations. The exchange, which had been on the blacklist since May 2022 for alleged non-compliance with local rules, is now seeking a Markets in Crypto-Assets Regulation (MiCA) license in the European Union.

The AMF’s blacklist, which includes unauthorized companies and websites, no longer features Bybit. A press release from the AMF, originally issued in May 2024, had warned the public about Bybit’s status. However, the release now carries a disclaimer stating that the information is no longer up to date. Bybit’s removal from the blacklist comes after the exchange announced in January that it would halt withdrawal and custody services for its French clients, citing increasing regulatory scrutiny from the local financial watchdog.

Bybit CEO Ben Zhou confirmed the exchange’s removal from the AMF blacklist and expressed the company’s commitment to working with European regulators. In a statement, Zhou announced that Bybit has been engaged in remediation efforts with the French regulator for over two years and is now pursuing a MiCA license to operate legally within the EU.

While Bybit’s removal from the AMF blacklist is a positive development, the exchange continues to face regulatory challenges in other regions. In Malaysia, the securities regulator ordered Bybit to halt operations, and the exchange has been subject to regulatory pressure in other countries as well. As the cryptocurrency industry evolves, exchanges like Bybit must navigate the complex landscape of global regulations to ensure compliance and maintain their operations.