Bybit CEO claims Chinese users can bypass restrictions with VPN
Ben Zhou, Bybit’s CEO, said residents of mainland China can access the crypto exchange with a VPN and bypass restrictions from China’s government while stressing that it will not accept the Yuan national currency. The company blocks IP addresses from mainland China but began allowing overseas Chinese users to sign up for the exchange back in June. As reported by the South China Morning Post, Zhou stated that Bybit wouldn’t trade yuan but noted that mainland residents can use a VPN. He claimed the risks of allowing mainland Chinese residents to trade on their platform were “acceptable.” Zhou additionally stated, “What the Chinese government dislikes the most about crypto is that it can facilitate capital outflow, so we won’t touch this red line.” China currently bans cryptocurrency trading, but Hong Kong allows it through licensed crypto exchanges. Zhou also claimed that Bybit is planning to reapply for that Hong Kong license at the start of 2025 and intends to f...