Get exclusive reports and key insights on airdrops, NFTs, and more! Subscribe to Alpha Reports now and enjoy the game!
Go to Alpha Report
Cryptocurrency exchange Bybit said it is providing access to its products and services to Chinese citizens living outside of China. South China Morning Post—If you reside in a jurisdiction where Company still provides services.
The policy change comes after the Dubai-based cryptocurrency exchange updated the Restricted Countries section of the exchange’s Terms of Service on Friday. Chinese citizens living outside of mainland China can sign up using their Chinese ID card or passport. SCMP said.
Launched in March 2018, Bybit is the world’s second-largest cryptocurrency exchange after Binance and boasts 30 million monthly visitors, according to CoinGecko. We maintain this status despite not providing our services to users in the United States, China, Hong Kong, Singapore, and many other jurisdictions.
In May 2023, Bybit announced that it would withdraw from Canada, citing regulatory changes. Later that year, Bybit ceased operations in the UK.
Starting in 2021, China itself has restricted access to cryptocurrencies, even banning Bitcoin mining in June 2021. However, China’s stance on cryptocurrencies appears to be softening following the launch of Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong in April.
Cryptocurrency exchanges now welcome Chinese citizens, but continue to block IP addresses originating from China. The company did not specify what it would do with customers who use virtual private networks (VPNs) to hide their geographic location.
Bybit did not immediately respond to a request for comment. decryption.
Edited by Ryan Ozawa.
daily report newsletter
Start your day today with top news stories, original features, podcasts, videos and more.
