French Regulators Remove Bybit from Blacklist, Crypto Exchange Now Targets MiCA License

Bybit, one of the renowned cryptocurrency exchanges,
was removed from the regulatory blacklist of France’s Autorité des Marchés
Financiers (AMF).

“After more than 2 years of working with the French
regulator through multiple remediation efforts, BYBIT is now officially removed
from France AMF blacklist. MiCA license next,” Ben Zhou, the Co-founder and CEO
of BYBIT, said on X.

From Blacklist to Compliance

After two years of remediation efforts and
negotiations, the exchange secured approval from the French watchdog. Now,
Bybit is shifting focus toward obtaining a Markets in Crypto-Assets (MiCA)
license, a key regulatory certification that would enable it to operate legally
across the European Economic Area (EEA).

Bybit found itself on the AMF blacklist in May 2022
for reportedly failing to comply with local financial regulations. At the time,
French authorities warned investors against using the platform, urging them to
shift to regulated exchanges.

After more than 2 years of working with the French regulator through multiple remediation efforts, BYBIT is now officially removed from France AMF blacklist. MiCA license next. pic.twitter.com/irPf5bOSBp

— Ben Zhou (@benbybit) February 14, 2025

In response, Bybit ceased offering services to French
residents last year while working behind the scenes to address regulatory
concerns. After an extended dialogue with the AMF and multiple compliance
adjustments, Bybit CEO Ben Zhou announced on X that the exchange was officially
removed from the blacklist.

MiCA License for Full EU Market Access

With the French regulatory hurdle cleared, Bybit has
now set its sights on acquiring a MiCA license. The MiCA framework, introduced
by the European Union, establishes a uniform regulatory structure for crypto
firms, allowing licensed platforms to operate freely across all 30 EEA nations.

While Bybit has made progress in France, it still
faces regulatory challenges in other key markets. In Malaysia, the Securities
Commission ordered Bybit to halt operations, citing non-compliance. Similarly, in India, the exchange suspended services
following regulatory scrutiny, despite later securing a local license after
paying a $1 million fine.

Other crypto firms are also pushing for MiCA approval,
seeing it as a gateway to expand in Europe. Competitors like Bitget, OKX, and
Crypto.com have all pursued or secured MiCA licenses to gain a foothold in the
region.

This article was written by Jared Kirui at www.financemagnates.com.