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📣French Regulator Warns Investors For Using ByBit Despite Ban
⏳The Autorité des Marchés Financiers (AMF), France’s local financial commission, has reminded investors in a warning note published Thursday, to refrain from trading crypto platform, ByBit.
🟠ByBit, which is one of the largest crypto exchanges globally, scored significant growth in the recent past. The exchange hit 20 million registered users after 5 years of operation in 2023.
🛡However, the exchange has been under scrutiny in France for its lack of non-compliance with current regulations. As a result, the French regulator blacklisted the platform in 20 May 2022.
➡️“ByBit is not authorized to provide its digital asset services in France,” the notice read.
🖱“In this regard, the AMF is urging French retail investors who have invested on this platform to take all necessary measures to avoid being unable to access their assets.”
🟢Further, AMF stressed that ByBit did not receive a digital asset service provider (DASP) license in France. The regulator has the right to take legal action to block the platform’s website, it added.
⏳The Autorité des Marchés Financiers (AMF), France’s local financial commission, has reminded investors in a warning note published Thursday, to refrain from trading crypto platform, ByBit.
🟠ByBit, which is one of the largest crypto exchanges globally, scored significant growth in the recent past. The exchange hit 20 million registered users after 5 years of operation in 2023.
🛡However, the exchange has been under scrutiny in France for its lack of non-compliance with current regulations. As a result, the French regulator blacklisted the platform in 20 May 2022.
➡️“ByBit is not authorized to provide its digital asset services in France,” the notice read.
🖱“In this regard, the AMF is urging French retail investors who have invested on this platform to take all necessary measures to avoid being unable to access their assets.”
🟢Further, AMF stressed that ByBit did not receive a digital asset service provider (DASP) license in France. The regulator has the right to take legal action to block the platform’s website, it added.