Bybit CEO Ben Zhou has confirmed that the crypto exchange is no longer on the blacklist of the financial regulator of France, the Autorité des Marchés Financiers (AMF).
This follows more than two years of involvement with the regulator to tackle compliance problems.
In a post of February 14 on X said Zhou:
“After more than 2 years of working with the French regulator due to several remediation efforts, Bybit is now officially removed from France AMF -black list.”
Bybit stood for regulatory challenges in France, which led to the suspension of its activities in the country in 2024.
At the time, the AMF investors warned that the platform was not registered and even considered legal steps because of his non-compliance.
Mica Comilition
After the removal of the blacklist, Bybit is now working on obtaining a markets in crypto-assets Regulation (MICA) license for activities in the European Union.
Mica, which came into force this year, is the first extensive crypto control framework of the region.
It establishes uniform rules for crypto companies, improves the protection of consumers, the prevention of market manipulation and guaranteeing compliance with regulations.
Various large crypto companies, including Crypto.com, Coinbase, Gemini, MoonPay, Kraken and OKX, have obtained the necessary licenses to continue to operate European users.
Adjustment to the institutional question
In the meantime, Bybit also restructures his trade services by migrating the platform of the options to Tether’s USDT. The move is intended to stimulate liquidity and meet the needs of institutional traders.
Zhou emphasized that the transition was driven by the market demand to a more stable and more efficient trade environment.
USDT, the largest stablecoin with a market capitalization of more than $ 140 billion, is widely used in crypto trading because of the liquidity and price stability.
The shift from Bybit to USDT -based options trade is expected to attract institutional investors who are looking for improved market efficiency.