Bybit to stop providing services in France

Crypto exchange Bybit will stop offering products or services in France. Starting from 16:00 (UTC+8) on August 2, French users will not be able to purchase any type of product, open new positions, or add new positions. All Bybit products, including Bybit Earn and all spot products are included in the restrictions. All remaining open positions of French users will be closed after 16:00 (UTC+8) on August 13. Only withdrawals of assets and funds will be allowed thereafter. With the EU Crypto-Asset Market (MiCA) regulatory framework set to take full effect in December this year, it has become more difficult for crypto companies to obtain licenses in France. Bybit said in a press release on Thursday: "In light of recent regulatory developments by French regulators, Bybit will stop providing our products and services to French nationals and residents. Once the appropriate licenses are obtained, we look forward to providing services again in the near future." (The Block)