The post Bybit to Pause Services in the UK Market Due to Regulatory Compliance! appeared first on Coinpedia Fintech News
Crypto trading platform Bybit has announced it will pause services in the UK market to comply with new marketing and communication regulations introduced by the UK Financial Conduct Authority. Effective October 1, 2023, Bybit will no longer accept account opening applications from identified UK residents and nationals. Existing UK customers will no longer be able to make new deposits, create new contracts, or increase existing positions effective October 8, 2023. They can only reduce and close their positions, while those who fail to manage and wind down their positions by January 8, 2024, will have their open positions liquidated.