The cryptocurrency trading platform, Bybit, recently announced that it will be suspending its services in the United Kingdom in order to comply with the Financial Conduct Authority (FCA) regulations. This suspension is effective immediately and will remain in place until Bybit can obtain the necessary authorization from the FCA.

Bybit is a popular crypto trading platform that offers users a variety of features, such as margin trading, derivatives trading, and spot trading. The platform has been growing rapidly in recent years, and it now has over 1 million users worldwide.

The FCA is the financial regulator in the UK and it has been cracking down on cryptocurrency exchanges in recent months. The regulator has said that all crypto exchanges must be authorized by them before they can operate in the UK. Bybit had not yet obtained this authorization, so they decided to suspend their services in the UK to comply with the regulations.

The suspension of services in the UK will affect both existing and new customers. Existing customers will no longer be able to access their accounts or trade on the platform. New customers will not be able to create an account or trade on Bybit.

Bybit is working with the FCA to obtain the necessary authorization and hopes to resume services in the UK soon. In the meantime, customers who are affected by the suspension can contact customer support for assistance.

Bybit’s decision to suspend services in the UK is a sign that they are taking the FCA regulations seriously and are committed to providing a safe and secure trading environment for their customers. It is also a reminder that all crypto exchanges must comply with local regulations in order to operate legally.