The Monetary Authority of Singapore (MAS) has added cryptocurrency exchange Bybit to its Investor Alert List, as reported by Wu Blockchain on June 17. This list serves as a public warning about entities that are not regulated by MAS or may be wrongly perceived as being licensed by the authority.
Inclusion on the list does not necessarily mean an entity has engaged in illegal activity, but it signals that the entity is not subject to MAS oversight. For investors, this can have significant implications, as they may not have access to the same level of protection or recourse if something goes wrong.
Bybit, a major global crypto exchange, has faced increased regulatory scrutiny in several jurisdictions. While the exchange has taken steps to comply with regulations in some markets, its addition to the MAS alert list suggests it is not licensed to provide services in Singapore.