- The exchange recently received a license in Kazakhstan
- And before that, she left the Canadian market
- The company aims to strengthen its presence in the EU
Cryptocurrency exchange Bybit continues to expand and announces on obtaining a license in Cyprus. The company received permission to provide custody services and services for the exchange of cryptocurrencies.
In a statement, Bybit writes that the grant of the license reflects its commitment to comply with local regulations. The move is aimed at strengthening the exchange’s presence in the European Union (EU), after the exchange became subject to regulatory scrutiny in Japan and left Canada and the UK.
Bybit co-founder and CEO Beng Zhu said:
“This decision is evidence that Bybit is adhering to a sound regulatory framework while expanding its global footprint. We fully support the goal of the regulator to create a secure and transparent cryptocurrency industry that is compliant.”
At the beginning of the month, Bybit received official permission to operate in Kazakhstan. The license for trading in digital assets and storage was issued by the regulator AFSA Kazakhstan. Then the co-founder and CEO of Bybit Ben Zhu noted that the new jurisdiction will allow the brand to expand its presence in the CIS. This is especially important now that the US and some other countries have launched harsh crypto crackdowns.