TechFlow reports that cryptocurrency exchange Bybit has announced its exit from the French market. Starting from 16:00 Beijing time on August 2, French users will no longer be able to purchase any products, open new positions, or increase existing positions. All Bybit products, including Bybit Earn and spot trading, will be restricted.
After 16:00 on August 13, all remaining open positions will be liquidated, after which users will only be allowed to withdraw assets and funds.
Bybit stated this decision is in response to recent regulatory developments in France, adding that the company looks forward to returning to the French market once it obtains the appropriate licenses. According to data from The Block, Bybit recorded $134.65 billion in trading volume in July, accounting for 12% of total cryptocurrency exchange trading volume.
