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Crypto Platform Bybit to Suspend UK Operations Starting October 8

Digital assets exchange Bybit, which cited early this month that new marketing rules in the UK would hinder its operations, will no longer accept new account applications from UK residents, starting October 1. The new rules, announced by the UK’s Financial Conduct Authority (FCA), apply to all crypto promotions including the ban on incentives like referral bonuses. The regulator said that the rules will come into effect from Oct. 8. To stay on the right side of FCA’s guidelines, crypto exchange Bybit will suspend its services in the UK market starting October 8. Existing UK users “will no longer be able to avail services” from October 8.

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