Bybit Restricted Countries

What Countries Does Bybit Restrict?

Bybit enforces access restrictions in specific regions due to regulatory mandates. These restrictions include the United States, mainland China, Singapore, and the Canadian provinces of Quebec and Ontario.

As stipulated in Section 12.3 of Bybit's Service Agreement, access is also restricted in areas facing political instability or international sanctions. These regions include North Korea, Cuba, Iran, Uzbekistan, Crimea, Donetsk, Luhansk, and Syria. It's crucial for users to be aware of these restrictions to ensure compliance with Bybit's policies.

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What Countries Does Bybit Support?

Bybit operates in over 230 countries across Europe, Asia, Africa, Australia and the Americas. Its services are available in regions where cryptocurrency trading has a clear regulatory framework that is designed to combat financial crimes like money laundering. Potential users must understand that Bybit adheres strictly to the legal frameworks of each jurisdiction.

Therefore, it is crucial to verify if Bybit's services are permitted in your region, as cryptocurrency regulations may evolve.

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Bybit Licenses and Regulations

Bybit, based in Dubai, is actively navigating the complex regulatory environment of the cryptocurrency exchange market. The company aims to secure top-tier licenses to enhance global compliance. A key achievement is obtaining a license for cryptocurrency exchange and custody services in Cyprus, adhering to the European Union's regulations.

Additionally, Bybit Fintech FZE, a Bybit subsidiary, received a Minimum Viable Product (MVP) Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). Although this license does not yet permit full virtual asset services in Dubai, it shows Bybit's commitment to meeting the UAE's regulatory standards.

These efforts are part of Bybit's strategy to strengthen its regulatory profile and expand services globally within a lawful and transparent framework, adapting to evolving regulatory demands in the cryptocurrency sector.

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Does Bybit Require KYC?

Yes, Bybit requires KYC (Know Your Customer) procedures for its users. This standard industry practice ensures the verification of clients' identities. Bybit's KYC process involves submitting and validating personal identification documents, such as a driver's license or passport.

For detailed information on the specific ID verification levels, users should refer to Bybit's official guidelines and resources.

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Can I Use Bybit in the USA?

No, Bybit does not officially support users in the USA due to regulatory restrictions. While accessing Bybit through a Virtual Private Network (VPN) is technically feasible, it violates Bybit's terms of service and may also breach US laws. Users should always consider the legal and regulatory risks of accessing cryptocurrency platforms in unauthorized regions.

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Bottom Line

In conclusion, Bybit's global operations are shaped by stringent regulatory adherence, limiting access in certain regions while supporting users in over 230 countries with clear regulatory frameworks. Compliance with local laws, robust KYC processes, and strategic licensing initiatives underscore Bybit's commitment to lawful and transparent service.

Users must stay informed about regional regulations to ensure they align with Bybit's policies and legal standards.