- Bybit cease services for French nationals due to regulatory changes, enforcing “Close-Only” mode from August 2.
- Bybit urges French users to close positions and withdraw funds, with liquidation of remaining positions set for August 13.
Bybit, a leading cryptocurrency exchange, announced that it will terminate its products and services for French nationals and residents due to recent regulatory developments.
Starting August 2, Bybit will restrict the accounts of its French clients to “Close-Only” mode, preventing the opening of new trading positions. The exchange urged its French users to close all positions and withdraw their funds promptly.
In an official statement, Bybit emphasized the need for users to wind down their activities, “Please wind down and close all of your open positions across all products and begin to withdraw your assets and funds from your account.”
On August 13, Bybit will liquidate any remaining open positions across all products, including derivatives, spot trading, active trading bots, copy trading, Bybit Card, Bybit Earn products, and structured products. Despite the liquidation, users will still be able to withdraw their assets and funds after the deadline.
