The Hong Kong Securities and Futures Commission (SFC) has flagged the popular cryptocurrency exchange as “suspect”.
SFC on Thursday, March 14 “dubious cryptocurrency exchanges” updated the list. Cryptocurrency exchange after the update Bybit It was seen that it was added to this list.
SFC also He also identified 11 products offered by Bybit as suspicious. SFC, Bybit and any of its subsidiaries operating without a license he emphasized.
The 11 Bybit products on the alert list include Bybit Futures and Inverse Futures Contracts, Bybit Options, Bybit Leveraged Tokens, Binary Asset, Binary Asset 2.0, Bybit Shark Fin, Liquidity Mining, ETH 2.0 Liquid Staking, Bybit Web3 Staking, Bybit Lending and Bybit Asset Management.
In the statement made by SFC on the subject, the following statements were made:
The SFC is concerned that these products are also available to Hong Kong investors and wishes to make clear that none of the entities in the Bybit group are licensed or registered with the SFC to carry out any ‘regulated activities’ in Hong Kong.
A counter statement was made on this move of the regulatory body. Bybit spokespersonchose to make a veiled comment:
At this time, we are unable to comment on any specific product or regulatory investigations. You can be assured that these products are not available in the Hong Kong market as different products are listed for various regions to meet local compatibility requirements.