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Home»ADOPTION NEWS»Bybit appears to be opening up registration and authentication to Chinese users: Report
ADOPTION NEWS

Bybit appears to be opening up registration and authentication to Chinese users: Report

By Crypto FlexsJune 5, 20242 Mins Read
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Bybit appears to be opening up registration and authentication to Chinese users: Report
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Cryptocurrency exchange Bybit appears to have implemented its services in the People’s Republic of China, a previously restricted jurisdiction.

Bybit has activated registration and authentication services for Chinese users, allowing them to provide ID, passport, driver’s license or residence permit to proceed with know-your-customer protocols on the platform, social media-based news outlet Wu Blockchain reported. The Block has reached out to Bybit for confirmation.

As of June 5, China was not included in the list of jurisdictions excluded from exchange services.

“Bybit may terminate the Service in the United States, United Kingdom, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled areas of Ukraine (currently Crimea, Donetsk, and Luhansk Regions), Syria, or as we may, at our discretion, from time to time. and such other jurisdiction as may be determined,” according to Bybit’s Terms of Service.

Bybit earlier this year submitted an application to operate as a virtual asset trading platform in Hong Kong through the company’s local subsidiary Spark Fintech Limited. The Bybit entity subsequently canceled its Hong Kong registration.

In early June, Hong Kong’s Securities and Futures Commission said it would not allow companies to serve mainland Chinese customers.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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