Bybit Suspends Crypto Operations In France Amid Rising Regulatory Tensions
Posted On December 18, 2024
Popular cryptocurrency exchange Bybit announced Tuesday that it will discontinue its withdrawal and custody services in France owing to increasing regulatory pressures.
What Happened: Bybit asked its French users to withdraw their funds before Jan. 8, 2025, at 8 a.m. UTC, to avoid any potential issues with account access or fund transfers.
The exchange said it would transfer unclaimed assets exceeding 10 USD Coin (CRYPTO: USDC) to Coinhouse, a licensed cryptocurrency custodian in France. For accounts with balances under 10 USDC, Bybit will impose a termination fee equivalent to 10 USDC, deducting it from available assets, before …
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