Bybit enforces access restrictions in specific regions due to regulatory mandates. These restrictions include the United States, mainland China, Singapore, and the Canadian provinces of Quebec and Ontario.
As stipulated in Section 12.3 of Bybit's Service Agreement, access is also restricted in areas facing political instability or international sanctions. These regions include North Korea, Cuba, Iran, Uzbekistan, Crimea, Donetsk, Luhansk, and Syria. It's crucial for users to be aware of these restrictions to ensure compliance with Bybit's policies.
What Countries Does Bybit Support?
Bybit operates in over 230 countries across Europe, Asia, Africa, Australia and the Americas. Its services are available in regions where cryptocurrency trading has a clear regulatory framework that is designed to combat financial crimes like money laundering. Potential users must understand that Bybit adheres strictly to the legal frameworks of each jurisdiction.
Therefore, it is crucial to verify if Bybit's services are permitted in your region, as cryptocurrency regulations may evolve.
Bybit Licenses and Regulations
Bybit, based in Dubai, is actively navigating the complex regulatory environment of the cryptocurrency exchange market. The company aims to secure top-tier licenses to enhance global compliance. A key achievement is obtaining a license for cryptocurrency exchange and custody services in Cyprus, adhering to the European Union's regulations.
Additionally, Bybit Fintech FZE, a Bybit subsidiary, received a Minimum Viable Product (MVP) Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). Although this license does not yet permit full virtual asset services in Dubai, it shows Bybit's commitment to meeting the UAE's regulatory standards.
These efforts are part of Bybit's strategy to strengthen its regulatory profile and expand services globally within a lawful and transparent framework, adapting to evolving regulatory demands in the cryptocurrency sector.
Does Bybit Require KYC?
Yes, Bybit requires KYC (Know Your Customer) procedures for its users. This standard industry practice ensures the verification of clients' identities. Bybit's KYC process involves submitting and validating personal identification documents, such as a driver's license or passport.
For detailed information on the specific ID verification levels, users should refer to Bybit's official guidelines and resources.
Can I Use Bybit in the USA?
No, Bybit does not officially support users in the USA due to regulatory restrictions. While accessing Bybit through a Virtual Private Network (VPN) is technically feasible, it violates Bybit's terms of service and may also breach US laws. Users should always consider the legal and regulatory risks of accessing cryptocurrency platforms in unauthorized regions.
Bottom Line
In conclusion, Bybit's global operations are shaped by stringent regulatory adherence, limiting access in certain regions while supporting users in over 230 countries with clear regulatory frameworks. Compliance with local laws, robust KYC processes, and strategic licensing initiatives underscore Bybit's commitment to lawful and transparent service.
Users must stay informed about regional regulations to ensure they align with Bybit's policies and legal standards.
As stated in Section 12.3 of the Service Agreement, Bybit does not offer services or products to Users in a few excluded jurisdictions including the United States, the Chinese Mainland, Hong Kong, Singapore, Canada, France, the United Kingdom, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled regions of Ukraine ( ...
As stated in Section 12.3 of the Service Agreement, Bybit does not offer services or products to Users in a few excluded jurisdictions including the United States, the Chinese Mainland, Hong Kong, Singapore, Canada, France, the United Kingdom, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled regions of Ukraine ( ...
Bybit is banned in the US due to the regulations imposed by the Securities and Exchange Commission (SEC) and other financial regulatory bodies. These regulations are in place to protect investors, but they also limit the availability of certain crypto trading platforms that haven't complied with these regulations.
Bybit is the best crypto exchange in Colombia, featuring a user-friendly Spanish interface and various deposit methods for Colombian Pesos (COP). Catering to over 40 million users worldwide, Bybit offers access to more than 1,400 digital currencies for trading on spot, futures, and options markets.
Nigeria has frozen over $330,000 in bank accounts linked to cryptocurrency traders, accusing them of manipulating the naira through illegal foreign exchange trading on platforms like Kucoin and Bybit.
The exchange is headquartered in Dubai, having moved from Singapore in 2022, and operates under Bybit Fintech Limited, a company registered in the British Virgin Islands.
Bitget Restricted Countries Bitget provides services to customers in over 100 countries, while it has restrictions on providing its products and services to certain countries and regions, including the US, Singapore, North Korea, Sudan, etc.
Bybit is not a trusted broker because it is not regulated by a financial authority with strict standards. We would not open an account for ourselves with them. If you want to stay safe, only sign up with brokers that are overseen by a top-tier and stringent regulator.
Yes, VPNs are legal for crypto in most countries. Many crypto traders use VPNs for privacy because they allow internet traffic to pass through an encrypted tunnel, preventing internet service providers or public WiFi hotspot providers from seeing the traffic.
Step 1: Click on the profile icon in the upper right corner of the navigation bar, then tap on Account & Security page. Step 2: Click on Verify Now beside the Identity Verification column (under Account Info) to enter the Identity Verification page. Step 3: Click on Verify Now under Lv.
Depending on the severity of the violation and the applicable laws or regulations, users who improperly use VPNs while accessing Bybit may face financial penalties or losses. These could include fines, forfeiture of funds, or other monetary consequences.
Despite that the company does not have a financial license, as this kind of activity is not subject to licensing in Philippines in general, the exchange has a good reputation. The company's team has developed reliable account protection and closely monitors the security of the platform.
Bybit is a global cryptocurrency exchange known for its derivatives trading platform. It has gained popularity in Africa for its advanced trading features, such as limit orders, market orders, and leverage/options trading.
Bybit's date to wind down its services will fall on the FCA's deadline for crypto asset firms marketing to users in the UK to be in compliance with certain rules aimed at providing “clear, fair and not misleading” marketing regimes.
The platform is available to all countries except Cuba, Sudan, Syria, Iran, North Korea, Venezuela, Pakistan, and Crimea. Some services are not available to residents of the US (in Washington, New York) and Canada.
The United States, Canada, Malaysia, Singapore, the Bahamas, and the United Kingdom are all on the list of restricted countries. OKX doesn't work in Cuba, Iran, North Korea, Syria, and other places where there is political unrest or international bans. This also includes Crimea, Donetsk, and Luhansk regions.
In other countries, KuCoin offers limited functions, and users are prohibited from using its platform and services. These countries include the United States (including US territories), Singapore, mainland China and Hong Kong, Thailand, Malaysia, Uzbekistan, and Ontario, Canada.
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