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    <p>Dubai-based derivatives exchange <a rel="noopener noreferrer nofollow" title="Bybit" href="https://thebittimes.com/tag/bybit.html">Bybit</a> and 11 of its <a rel="noopener noreferrer nofollow" title="products" href="https://thebittimes.com/tag/products.html">products</a> have been listed as ‘suspicious’ by <a rel="noopener noreferrer nofollow" title="Hong Kong" href="https://thebittimes.com/tag/hong-kong.html">Hong Kong</a>’s market <a rel="noopener noreferrer nofollow" title="regulator" href="https://thebittimes.com/tag/regulator.html">regulator</a>.</p>
    <p>The country’s Securities and Futures Commission (SFC) added Bybit to its ‘Suspicious Virtual Asset Trading Platforms Alert List’ on Thursday.</p>
    <p>At the same time, it added a number of the company’s <a rel="noopener noreferrer nofollow" title="products" href="https://thebittimes.com/tag/products.html">products</a>, including ‘Futures Contracts and Inverse Futures Contracts,’ ‘<a rel="noopener noreferrer nofollow" title="Bybit" href="https://thebittimes.com/tag/bybit.html">Bybit</a> Leveraged Tokens,’ and ‘<a rel="noopener noreferrer nofollow" title="Bybit" href="https://thebittimes.com/tag/bybit.html">Bybit</a> Wealth Management’ to its ‘Suspicious Investment Products Alert List.’</p>
    <p>In a statement, the SFC said, “The SFC is concerned that these products have also been offered to Hong Kong investors and wishes to make it clear that <strong>no entity in the Bybit group is licensed by or registered with the SFC</strong> to conduct any ‘regulated activity’ in Hong Kong.”</p>
    <p>It added that it “will not hesitate to take enforcement action against unlicensed activities where appropriate.”</p>
    <p>This month, the SFC also issued warnings about Hong Kong-headquartered exchange BitForex after it shut down withdrawals and saw outflows of nearly $60 million.</p>
    <p><em>Read more: Crypto exchange BitForex shuts down withdrawals and disappears</em></p>
    <h2 class="wp-block-heading" id="h-coinbase-received-subpoena-possibly-linked-to-bybit">Coinbase received subpoena possibly linked to Bybit</h2>
    <p>Late last year, Coinbase reportedly contacted users, informing them of a subpoena it received from the Commodity Futures Trading Commission (CFTC) demanding user account information and transaction history.</p>
    <p>The email sparked speculation that the <strong>CFTC is targeting Coinbase users who interacted with <a rel="noopener noreferrer nofollow" title="Bybit" href="https://thebittimes.com/tag/bybit.html">Bybit</a></strong> — suggesting the commission may be preparing for legal action against the exchange.</p>
    <p>“We write to inform you that Coinbase has been served with a subpoena,” the email to select users read, “seeking information related to your account and account transaction activity.”</p>
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       CFTC demands Coinbase user data in suspected Bybit probe
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    <p>However, the email stated that Coinbase may decide to counter the CFTC subpoena — and therefore user information will not yet be handed over.</p>
    <p>“No action is required from you,” the email continued, “but Coinbase may respond to the Subpoena unless served before November 30, 2023 with a motion to quash or other objection to the subpoena that has been filed with the Court — including by sending information concerning your Coinbase account to the [CFTC].”</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bybit-and-11-of-its-products-flagged-as-suspicious-by-hong-kong-regulator-tbt82533.html">https://thebittimes.com/bybit-and-11-of-its-products-flagged-as-suspicious-by-hong-kong-regulator-tbt82533.html</a></p>

Bybit and 11 of its products flagged as 'suspicious' by Hong Kong regulator

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