Chinese Expatriates Granted Official Registration and Trading Access on Bybit Potential Crypto Unban in China

Bybit, a prominent cryptocurrency exchange, has made a significant announcement regarding its services for Chinese users living outside of China. Previously, reports had surfaced indicating that Bybit was allowing registrations for users located within China.

As the third-largest offshore crypto exchange globally, Bybit has surprisingly decided to open up registration and authentication for Chinese users, a group that was previously prohibited from accessing the platform. This development has sparked speculation about a potential reversal of the ban on cryptocurrency in China, which could result in a substantial influx of capital into the market.

According to a statement released by Bybit, “We are thrilled to expand our services to the overseas Chinese community. Bybit, ranked among the top three crypto exchanges in the world by trading volume, recognizes the increasing demand for secure and user-friendly cryptocurrency trading platforms among Chinese expatriates and international Chinese communities.”

Furthermore, the statement highlighted that overseas Chinese users will now have the opportunity to register and create accounts on the Bybit platform, enjoying the same benefits as existing users. Bybit emphasized its commitment to complying with all relevant regulations in its operating markets.

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