Bybit removed from AMF blacklist, eyes MiCA compliance for EU growth

Bybit CEO Ben Zhou has confirmed that the crypto speech is nary longer connected the blacklist of France’s fiscal regulator, the Autorité des Marchés Financiers (AMF).

This follows implicit 2 years of engagement with the regulator to code compliance concerns.

In a Feb. 14 station connected X, Zhou said:

“After much than 2 years of moving with the French regulator done aggregate remediation efforts, BYBIT is present officially removed from France AMF blacklist.”

Bybit faced regulatory challenges successful France, starring to the suspension of its operations successful the state successful 2024.

At the time, the AMF warned investors that the level was not registered and adjacent considered ineligible enactment owed to its non-compliance.

MiCA compliance

Following its removal from the blacklist, Bybit is present moving toward securing a Markets successful Crypto-Assets Regulation (MiCA) licence for operations successful the European Union.

MiCA, which took effect this year, is the region’s archetypal broad crypto regulatory framework.

It establishes unified rules for crypto businesses, enhancing user protection, preventing marketplace manipulation, and ensuring regulatory compliance.

Several large crypto firms, including Crypto.com, Coinbase, Gemini, MoonPay, Kraken, and OKX, person obtained the indispensable licenses to proceed serving European users.

Adapting to organization demand

Meanwhile, Bybit is besides restructuring its trading services by migrating its Options level to Tether’s USDT. The determination aims to boost liquidity and cater to the needs of organization traders.

Zhou highlighted that the modulation was driven by marketplace request for a much unchangeable and businesslike trading environment.

USDT, the largest stablecoin with a marketplace headdress exceeding $140 billion, is wide utilized successful crypto trading owed to its liquidity and terms stability.

Bybit’s displacement to USDT-based Options trading is expected to pull organization investors seeking enhanced marketplace efficiency.

The station Bybit removed from AMF blacklist, eyes MiCA compliance for EU growth appeared archetypal connected CryptoSlate.