Bybit Returns to UK Market With 100 Spot Trading Pairs After Two-Year Absence
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced its return to the UK market with 100 spot trading pairs after a two-year absence. The exchange initially exited the UK in 2023 due to tighter regulations on crypto promotion and marketing imposed by the UK's Financial Conduct Authority (FCA).
Bybit is not licensed directly in the UK but operates under a framework designed to comply with FCA financial-promotion standards. Its UK marketing activities will be conducted through Archax, a London-based exchange holding a special license to approve financial promotions. Archax will also host Bybit's UK operations, facilitating regulatory compliance.
The FCA's stringent rules, particularly those introduced in October 2023 targeting crypto advertising, have led several firms to withdraw from the UK market. The UK government plans to publish a comprehensive crypto rulebook by 2027 to provide clearer regulatory guidance.
Bybit serves approximately 80 million users globally and aims to introduce new UK-focused products within a compliant and transparent framework. Archax has experience assisting other major exchanges, such as Coinbase and OKX, in accessing the UK market without requiring direct authorization.
