Bybit Added to Singapore MAS Investor Alert List
MAS added Bybit to its investor alert list, and the regulator gave no specific reason for the listing.
- On Wednesday, the Monetary Authority of Singapore added Bybit and Bybit Fintech Limited to its Investor Alert List, which flags entities consumers might mistakenly perceive as licensed or regulated.
- Although co-founded by Singaporean entrepreneur Ben Zhou, Bybit does not operate in Singapore and lists the nation among its "Service Restricted Countries," prohibiting local users from accessing services.
- Bybit, which claims more than 85 million users, said on June 18 it is "aware of the listing" and is engaging with MAS to understand the reason behind its inclusion.
- Firms on the MAS Investor Alert List are not licensed to provide financial services in Singapore, and Bybit has implemented measures to restrict access by blocking IP addresses from the Republic.
- Singapore maintains assertive crypto sector oversight to preserve its status as a leading digital asset hub, recently revoking the Major Payment Institution license of crypto liquidity provider Bsquared Technology for regulatory breaches.
14 Articles
14 Articles
Singapore Adds Crypto Firm Bybit To Its Investor Alert List
MAS Flags Bybit Alongside Binance and KuCoin in Singapore Crackdown
Singapore’s financial watchdog just put Bybit on its Investor Alert List. The Monetary Authority of Singapore, known as MAS, grouped… Read the original on MAS Flags Bybit Alongside Binance and KuCoin in Singapore Crackdown. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
The Singapore Monetary Authority (MAS) incorporated Bybit Fintech Ltd. into its investor alert list, as part of a tightening of state surveillance of exchanges of cryptocurrencies operating without license in the city-state. Singapore is the regional headquarters of several of the major firms in the sector, although this does not exempt them from meeting local requirements. The MAS clarified that listing does not involve irregularities, but seek…
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