Bybit, the world's second-largest crypto exchange by trading volume, is no longer operating illegally in France, according to its CEO, Ben Zhou. The exchange has officially been removed from the blacklist of France’s financial regulator, the Autorité des Marchés Financiers (AMF), marking a significant regulatory victory after more than two years of compliance efforts.

Bybit’s Path to Regulatory Compliance

Bybit was first added to the AMF’s blacklist in May 2022 for operating without proper registration in France. The regulator had previously warned investors that Bybit was not authorized to provide services and encouraged users to transition away from the platform. Facing regulatory scrutiny, Bybit announced in January 2025 that it would halt services for French users.

However, after extensive remediation efforts and continuous engagement with French authorities, Bybit has now been delisted from the AMF’s blacklist. The AMF's database confirms the removal, and the regulator has updated its previous press release with a disclaimer stating that the information is now outdated.

What’s Next? MiCA License in Sight

With its regulatory issues in France resolved, Bybit is now looking to obtain a Markets in Crypto-Assets (MiCA) license, which would allow it to legally operate across all 30 European Economic Area (EEA) countries. The MiCA framework, set to take full effect in 2025, is expected to standardize crypto regulations across the EU and provide clearer operational guidelines for exchanges.

Bybit’s move comes as other major crypto exchanges, such as Bitget, Crypto.com, and OKX, are also seeking or have already obtained MiCA licenses. Bitget recently secured a permit to operate in Bulgaria and aims to expand its European presence further. Meanwhile, both OKX and Crypto.com have already received full MiCA-compliant licenses, allowing them to offer regulated services across the EU.

While Bybit has cleared its name in France, regulatory hurdles persist in other regions. In Malaysia, the country’s securities regulator ordered the exchange to cease operations, and in India, Bybit faced similar regulatory pressure, leading to service suspension. However, Bybit has demonstrated resilience, as seen in its successful efforts to secure a license in India after paying a $1 million fine.

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