Chinese expatriates are now able to officially register and trade on Bybit is China considering lifting the ban on cryptocurrency

Bybit, a prominent cryptocurrency exchange, has recently announced that Chinese users living outside of China are now permitted to create accounts and utilize its services. This decision comes after reports surfaced indicating that Bybit had started accepting registrations from users located within China.

As the third-largest offshore crypto exchange, Bybit has surprisingly lifted its restrictions on Chinese users, who were previously unable to access the platform. This development has sparked speculation about whether China may be in the process of relaxing its stance on cryptocurrency, potentially leading to a significant influx of capital into the market.

According to a statement released by The Block, Bybit stated, “Bybit, ranked among the top three cryptocurrency exchanges globally in terms of trading volume, is excited to extend our services to the overseas Chinese community. This decision was made in light of the increasing demand for secure, reliable, and user-friendly cryptocurrency trading platforms among Chinese expatriates and international Chinese communities.”

The exchange also mentioned, “Overseas Chinese users now have the opportunity to register and create accounts on the Bybit platform, enjoying the same privileges as our existing user base. Bybit remains dedicated to complying with all relevant regulations in the markets where we operate.”

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

Tags: Crypto Regulations.