Exchange Details

Bybit Restricted Countries – Services Are Not Offered and Why

ByBit Discount Code
Join Bybit

Project Name: Bybit

Website: Bybit Official Website

Year Founded: 2018

Restricted Countries: USA, Singapore, China, Canada, France, and more

Restricted Countries: Bybit does not offer services in some countries due to legal regulations.

Bybit has become one of the fastest-growing crypto exchanges, yet it’s not accessible in every country. In this article, we explore which countries Bybit is restricted in, the reasons behind these restrictions, and alternative crypto exchanges for users in those countries. Bybit’s restricted countries are directly influenced by legal regulations and political decisions.

Countries Where Bybit is Restricted

Bybit has restricted services in the following countries:

  • United States (USA): Due to non-compliance with SEC and other regulatory bodies.
  • Singapore: Due to stringent financial regulations.
  • Mainland China: Due to the country’s general restrictions on cryptocurrency trading.
  • Hong Kong: Due to similar stringent regulations and investor protection requirements.
  • Canada: Challenges in complying with FINTRAC regulations.
  • France: Struggles with AML (Anti-Money Laundering) and KYC (Know Your Customer) compliance.
  • United Kingdom: Non-compliance with regulations enforced by the FCA (Financial Conduct Authority).
  • North Korea, Cuba, Iran: Due to international sanctions.
  • Uzbekistan: Due to local cryptocurrency regulations.
  • Russian-controlled areas of Ukraine: Due to political and international sanctions.
  • Syria: Again, due to international sanctions and political conditions.
× Bybit’s list of restricted countries may change with new legal regulations or policy shifts.

Reasons Behind Bybit’s Restrictions

Bybit’s list of restricted countries includes some interesting and unexpected scenarios:

  • Legal Compliance: Bybit must comply with each country’s legal framework, which sometimes leads to service suspension.
  • U.S. Influence: Despite the U.S. having a vast crypto user base, Bybit’s ban there is notable.
  • Asian Market Dynamics: Restrictions in countries like Singapore and China reflect the complex nature of crypto trading in Asia.
  • Growing Alternatives: These restrictions foster growth for other exchanges in these regions.

Alternative Crypto Exchanges

For users in countries where Bybit is restricted, here are some alternatives:

  • Binance: Known for its worldwide usage and extensive range of cryptocurrencies.
  • Kraken: Strong presence in the U.S. with recognized security measures.
  • Coinbase: Popular especially among U.S. users for its user-friendly interface.
  • OKEx: A significant player in the Asian market offering various financial products.

Frequently Asked Questions

Bybit does not provide services in some countries due to stringent financial regulations, international sanctions, and compliance challenges.