Bybit to suspend UK services due to regulatory changes
Bybit will stop new account registrations on October 1 and end pause deposits and other services for existing customers on October 8. The exchange’s announcement comes ahead of the effective date for new FCA rules for crypto firms. Bybit has notified its customers that it will suspend its services in the UK next month as it looks to align operations with new regulatory requirements. According to the Crypto exchange , the decision is “ in light of the UK Financial Conduct Authority’s introduction of new rules regarding marketing and communications by crypto businesses as outlined in the June 2023 Policy Statement (PS23/6) entitled “Financial Promotion Rules for Crypto assets .” The suspension will allow the exchange to focus resources on meeting the new regulation, Bybit said in the announcement. No new customer registrations beginning October 1 No new registrations will be allowed as from October 1, while services to existing ...