{"id":15776,"date":"2024-08-02T10:07:21","date_gmt":"2024-08-02T07:07:21","guid":{"rendered":"https:\/\/forklog.com\/en\/bybit-to-cease-operations-in-france\/"},"modified":"2024-08-02T10:07:21","modified_gmt":"2024-08-02T07:07:21","slug":"bybit-to-cease-operations-in-france","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bybit-to-cease-operations-in-france\/","title":{"rendered":"Bybit to Cease Operations in France"},"content":{"rendered":"<p>The Bitcoin exchange Bybit <a href=\"https:\/\/announcements.bybit.global\/en\/article\/notice-on-close-only-and-position-closures-blta0c0e0f458eec266\/\">announced<\/a> its withdrawal from the French market.<\/p>\n<p>Starting from August 2 at 8:00 UTC, local users will no longer be able to open or add new positions.<\/p>\n<p>All Bybit products are included in this restriction, according to the company&#8217;s release.<\/p>\n<p>All remaining positions are subject to liquidation after August 13 at 8:00 UTC. Thereafter, the platform will only allow the withdrawal of assets and funds.<\/p>\n<p>The decision follows the tightening of requirements by the country&#8217;s regulators for obtaining the necessary licenses in preparation for the implementation of MiCA at the end of the year.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In light of recent developments related to actions by French regulatory authorities, Bybit is ceasing to provide products and services to residents of the country,&#8221; the statement reads.<\/p>\n<\/blockquote>\n<p>In June, CEO Ben Zhou assured that the company thoroughly checks Russian clients and adheres to &#8220;very strict rules&#8221; regarding sanctions compliance.<\/p>\n<p>In May, Russian users accounted for 27% of Bybit&#8217;s total traffic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitcoin exchange Bybit announced its withdrawal from the French market. Starting from August 2 at 8:00 UTC, local users will no longer be able to open or add new positions. All Bybit products are included in this restriction, according to the company&#8217;s release. All remaining positions are subject to liquidation after August 13 at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1151,134,36],"class_list":["post-15776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bybit","tag-france","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=15776"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/15775"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=15776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=15776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=15776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}