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Bybit Restricted Countries

Bybit Restricted Countries

Discover Bybit's worldwide reach, understand its regional access limitations, and learn about its commitment to regulatory compliance and security.

Summary: Bybit restricts access in certain regions like the USA, China, and Canada due to regulations but offers services in over 160 countries, ensuring compliance with local laws. The platform is enhancing regulatory compliance, notably in Cyprus and Dubai, and enforces KYC procedures for user security.

However, it does not support services in the US. Users need to check local regulations and Bybit's policies for a compliant trading experience.

Bybit Available Countries
5.0 out of 5.0 by Datawallet Team
Bybit extends cryptocurrency trading to over 180 countries, adhering to local regulations with restrictions in areas including the US and Singapore.
Supported Countries
Over 160 across all continents.
Restricted Coutnries
USA, Singapore, Canada, the UK and other countries.
Headquarters
Based in Seychelles and licensed by CySEC.

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What Countries Does Bybit Restrict?

Bybit, a leading platform in the digital asset exchange market, restricts access in certain areas due to regulations from local financial bodies. These restrictions include the United States, mainland China, Singapore, and parts of Canada, specifically Quebec and Ontario.

In line with Section 12.3 of Bybit's Service Agreement, it also restricts access in regions affected by political issues or under international sanctions, such as North Korea, Cuba, Iran, Uzbekistan, Crimea, Donetsk, and Luhansk, and extends to Syria. Understanding these limitations is essential for users to ensure they comply with Bybit's policies.

Bybit Restricted Countries

What Countries Does Bybit Support?

Bybit caters to a wide audience, offering its services in over 160 countries globally. This includes the United Kingdom, several European Union member states, Australia, and other areas where cryptocurrency trading aligns with local laws. It's important for potential users to recognize that Bybit's operations are contingent upon the local legal stance on cryptocurrency trading.

The platform commits to compliance with these legal requirements, ensuring its services match the regulatory landscape of each jurisdiction. Users should check if their location allows the use of Bybit's services, noting that local laws and regulations regarding cryptocurrencies can change.

Bybit Licenses and Regulations

Bybit is headquartered in the Seychelles and navigates the complex regulatory environment of the cryptocurrency exchange market. The company is making strides towards securing top-tier licenses to improve its compliance with global regulations. A notable achievement in this direction is obtaining a license for cryptocurrency exchange and custody services in Cyprus, demonstrating their commitment to adhering to the European Union's regulatory frameworks.

Additionally, Bybit's branch, Bybit Fintech FZE, received a Minimum Viable Product (MVP) Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). Although this license currently does not permit comprehensive virtual asset services in Dubai, it signifies Bybit's dedication to fulfilling the UAE's rigorous regulatory prerequisites.

These efforts are part of Bybit's broader strategy to bolster its regulatory profile and extend its services worldwide within a lawful and transparent structure, keeping pace with the cryptocurrency sector's evolving regulatory demands.

Does Bybit Require KYC?

Yes, Bybit implements KYC (Know Your Customer) procedures for users on its platform. This process is a common industry practice aimed at verifying clients' identities. Bybit's KYC process typically requires users to provide and validate personal identification documents, such as a driver's license or passport. For specific information on the levels of ID verification required by Bybit, users should consult the platform's official guidelines and resources.

Can I Use Bybit in the US?

No, Bybit does not officially support its services in the US, adhering to the country's regulatory standards. While it is technically possible to access Bybit using a Virtual Private Network (VPN), this action might contravene Bybit's terms of service and could also breach US laws. Users should always consider the legal and regulatory implications of accessing cryptocurrency platforms in jurisdictions that are not officially permitted.

Bottom Line

In summary, Bybit's strategy of balancing global expansion with regulatory compliance underscores its commitment to user security. Facing restrictions in some regions due to regulatory issues, it simultaneously secures licenses in places like Cyprus and Dubai to broaden its legal operations. This approach highlights the critical role of compliance in cryptocurrency trading. Users should regularly check their local regulations and Bybit's terms to ensure they're trading within legal bounds, emphasizing the need for a well-informed and compliant trading experience on the platform.

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