Bybit secures Cyprus crypto license

The cryptocurrency exchange Bybit announced that it has obtained a license to provide exchange and custody services for digital assets in Cyprus. CoinDesk reports.

According to the statement, the move demonstrates the company’s commitment to complying with local rules.

«We fully support the regulatory objective — the creation of a cryptocurrency industry that would be simultaneously compatible, safe and transparent,» said the exchange’s CEO Ben Zhou.

Earlier Bybit obtained a license to operate a digital-assets platform and provide custody from AFSA.

Back in autumn 2022, Binance became the holder of a license to operate as a digital-asset provider from the Cyprus regulator. However, in June 2023 the company withdrew the registration.