Bybit Restricts Services for EEA Users Amid Regulatory Compliance

Cryptocurrency exchange Bybit has announced that it will gradually restrict access to some of its services for users in the European Economic Area (EEA). This move is part of the company's regulatory compliance process. The affected users will be notified in advance before the restrictions take effect, and they will still have access to their assets held in custody accounts.

Bybit stated that it will share timelines for managing current and new positions for users residing in the EEA. The company emphasized that users will continue to have access to their assets during the transition period. Bybit EU is working to obtain an additional license in Austria to cover a wider range of products, but Malta is not included in this process as Bybit EU licenses have not yet been extended to that country.

The regulation affects users residing in 27 countries within the EEA, including Austria, Belgium, and Germany. Bybit noted that it conducts its regulated operations in Europe through its MiCA-licensed entity, Bybit EU. The company will provide further information about the transition process through official channels.