Chinese Expat Traders Granted Official Registration and Trading Access on Bybit Could China be Considering Lifting Crypto Ban

Bybit, the third-largest offshore cryptocurrency exchange, has made an exciting announcement that Chinese users living outside of China are now welcome to create accounts and access its services. This decision came after reports surfaced that Bybit had started to allow registrations for users located within China.

This unexpected move by Bybit to open registration and authentication for Chinese users, who were previously restricted from using the platform, has sparked speculation about the possibility of China lifting its ban on cryptocurrencies. This development could potentially result in a significant influx of capital into the market.

According to a statement released by Bybit and reported by The Block, the exchange expressed its excitement about expanding its services to the overseas Chinese community. The statement mentioned, “Bybit, ranked among the top three cryptocurrency exchanges globally in terms of trading volume, is delighted to announce the extension of our services to Chinese expatriates and international Chinese communities. This decision was driven by the increasing demand for secure, reliable, and user-friendly cryptocurrency trading platforms among these communities.”

Furthermore, Bybit emphasized that overseas Chinese users can now register and create accounts on their platform, enjoying the same benefits as their existing user base. The exchange reassured its commitment to complying with all relevant regulations in its markets.

Bybit has removed China from its list of restricted jurisdictions in its terms of service. The current restricted jurisdictions include the United States, United Kingdom, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, and Russian-controlled regions of Ukraine and Syria.

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Crypto Regulations