The Hong Kong Securities and Futures Commission (SFC) has listed Bybit among suspicious cryptocurrency exchanges. The agency has added 11 of the company’s products to its list of unsafe investments.
According to the notice, clients of the platform risk losing all their investments.
This list includes:
- futures;
- inverse futures;
- options;
- leveraged tokens;
- Dual Asset;
- Dual Asset 2.0;
- Bybit Shark Fin;
- liquidity mining;
- Ethereum liquid staking;
- Bybit Web3 staking;
- lending;
- wealth management.
The warning does not apply to the license application submitted by SFC Spark Fintech Limited. The latter seeks approval to operate as a regulated digital asset trading platform alongside 23 other organizations.
On March 15, the SFC added MEXC to the list of questionable exchanges. The regulator accused the platform of operating without a license.
The deadline for document submission expired on February 29. Exchanges that failed to meet this requirement must cease providing services in Hong Kong by the end of March.
In January, the SFC labeled Floki Inu’s staking programs as ‘questionable’.
In December, Kaiko identified Coinbase and Bybit as the main beneficiaries of the resolution of Binance’s issues with US authorities.