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<h4><strong>The decision comes as a response to recent developments involving France’s financial regulator, the Autorité des Marchés Financiers (AMF).</strong></h4> 
<p>Bybit has been at odds with the AMF since 2022 when the regulator <a href="https://www.amf-france.org/en/news-publications/news-releases/amf-news-releases/amf-reminds-public-cryptoasset-trading-platform-bybit-blacklisted" target="_blank" rel="noopener">blacklisted</a> the exchange.</p> 
<h5><strong>Bybit Limits French Accounts and Withdrawal Deadlines</strong></h5> 
<p>This blacklist status significantly impacted Bybit’s ability to operate within the French market. In light of the regulatory climate and ongoing challenges, Bybit has decided to suspend its services in France.</p> 
<p>According to its <a href="https://announcements.bybit.com/en/article/notice-on-close-only-and-position-closures-blta0c0e0f458eec266/" target="_blank" rel="noopener">blog post</a>, starting from August 2, 2024, Bybit will restrict all French user accounts to a “close-only” configuration. This means that French users will no longer be able to open new positions or deposit additional funds into their Bybit accounts. The restriction is intended to limit trading activity and manage the transition as Bybit phases out its operations in the country.</p> 
<p><img decoding="async" class="wp-image-147254 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfgfdhyu-300x259.png" alt="" width="486" height="420" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfgfdhyu-300x259.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfgfdhyu.png 393w" sizes="(max-width: 486px) 100vw, 486px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/CryptoMage_YT/status/1819002949671985247" target="_blank" rel="noopener">X</a></strong></h6> 
<p>On August 13, 2024, Bybit will take further action by automatically liquidating all open positions held by French users. Additionally, Bybit will suspend card services for its French clients. Users will be able to withdraw any remaining funds from their accounts, ensuring they can access their assets before the exchange ceases its operations in France.</p> 
<p>Bybit’s decision to halt operations reflects the ongoing regulatory pressures that many cryptocurrency exchanges face as they navigate diverse regulatory environments. The AMF’s stringent requirements have led Bybit to reconsider its operations in France, as maintaining compliance without proper licenses has proven challenging.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/bybit-halts-operations-in-france-amid-regulatory-issues/">Bybit Halts Operations in France Amid Regulatory Issues</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Bybit Halts Operations in France Amid Regulatory Issues

Altcoin Buzz

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