Follow us on:


Post: Bybit Warning: SFC Highlights Unlicensed Crypto Operations

Bybit Warning: SFC Highlights Unlicensed Crypto Operations

Key Points

  • Hong Kong’s Securities & Futures Commission (SFC) has added Bybit, a cryptocurrency exchange, to its warning list.
  • SFC has issued a warning regarding Bybit offering trading services in crypto-related products without proper authorization.
  • Bybit’s various products, including futures, options, leveraged tokens, and others, have been highlighted in the warning.
  • The SFC emphasized that no entity within the Bybit group is authorized to conduct regulated activities in Hong Kong.
  • Crypto-related products, such as futures contracts or securities, need licensing with the SFC before being offered to Hong Kong investors.
  • Clarification was made regarding and Bybit Fintech Limited, differentiating them from a domain not providing crypto services in Hong Kong.

Bybit Warning by SFC

The Hong Kong Securities & Futures Commission (SFC) has taken action against Bybit, warning the public about the exchange’s unlicensed operations in offering crypto-related products. Bybit’s various offerings, including futures, options, leveraged tokens, and more, have raised concerns for the SFC regarding unauthorized activities in Hong Kong.

Licensing Requirement for Crypto Products

The SFC’s warning underscores the necessity for proper licensing of crypto-related products like futures contracts or securities before being available to Hong Kong residents. By stating that no entity within Bybit is authorized for regulated activities in Hong Kong, the SFC aims to protect investors from potentially risky or unapproved financial services.

Differentiation Between Entities

The regulator’s clarification on and Bybit Fintech Limited serves to distinguish the unauthorized platform from a domain not engaging in crypto services within Hong Kong. This distinction aims to prevent confusion among investors and ensure compliance with regulatory standards in the region.

Hot Take

The SFC’s cautionary stance towards Bybit highlights the importance of regulatory compliance in the cryptocurrency sector. As the industry evolves, ensuring proper authorization for trading platforms and products becomes crucial to safeguard investors and maintain market integrity. This move emphasizes the regulatory scrutiny faced by crypto entities operating in various jurisdictions, urging them to adhere to legal requirements to mitigate risks and protect stakeholders.

Recent Posts
Social Media
CheekyCrypto Membership Platform
Hardware Wallets
Plutus Card