Bybit appears to be opening up registration and authentication to Chinese users: Report

Cryptocurrency exchange Bybit appears to have implemented its services in the People’s Republic of China, a previously restricted jurisdiction.

Bybit has activated registration and authentication services for Chinese users, allowing them to provide ID, passport, driver’s license or residence permit to proceed with know-your-customer protocols on the platform, social media-based news outlet Wu Blockchain reported. The Block has reached out to Bybit for confirmation.

As of June 5, China was not included in the list of jurisdictions excluded from exchange services.

“Bybit may terminate the Service in the United States, United Kingdom, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled areas of Ukraine (currently Crimea, Donetsk, and Luhansk Regions), Syria, or as we may, at our discretion, from time to time. and such other jurisdiction as may be determined,” according to Bybit’s Terms of Service.

Bybit earlier this year submitted an application to operate as a virtual asset trading platform in Hong Kong through the company’s local subsidiary Spark Fintech Limited. The Bybit entity subsequently canceled its Hong Kong registration.

In early June, Hong Kong’s Securities and Futures Commission said it would not allow companies to serve mainland Chinese customers.

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