Under the regulatory pressure, Bybit suspended its crypto operations in France.
Bybit is a popular cryptocurrency exchange known for its user-friendly interface and advanced trading features. This crypto trading platform supports spot and derivatives trading, offers a wide range of cryptocurrencies, and ensures high liquidity and fast transactions. Bybit is also praised for its robust security measures and excellent customer support.
In the latest developments Bybit exchange has stopped its operations in France. This decision comes after new rules and regulations in the country. ByBit has promised that French users can still withdraw their money without any restriction. The exchange hopes to start services again once it meets the French rules. This shows how governments are closely watching cryptocurrency exchanges.
BREAKING
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Bybit is blacklisted in France. The AMF reserves the right to take legal action to block the site. Investors should prepare for a possible sudden cessation of the platform in France. pic.twitter.com/pXIQ1Q4rvV
— Token Metrics (@tokenmetricsinc) May 16, 2024
According to many sources, the French financial regulator, AMF, has warned that it might take legal action to block the Bybit site. All these things are enough to create panic among the Bybit users.
Bybit & India
Despite the bad news surrounding Bybit exchange, the Bybit team has been engaged in multiple developments to attract a large number of crypto investors with highly attractive crypto services.
Recently, Bybit added support for the Indian central bank digital currency (CBDC), also known as the Digital Rupee, to allow better crypto cash-in and cash-out ability for customers.
BIT price action
The current trade price of BIT token, native token of Bybit exchange, is $1.03 & this price is 29% down over the last 7 days.
The last 24 hours of price fluctuation are not showing any sudden panic among Bit token investors, despite the latest bad news.
Note: Bybit is a partner of the company BitDAO (Bit). BitDAO operates all the necessary & important operations behind this token.
Read also: Cardano Founder’s Instagram Account Impersonated to Promote Fraudulent Staking Platform
ByBit Exchange Stops Operations in France
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