Bybit Returns to the UK Crypto Market After Two-Year Absence Amid Regulatory Shift

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has officially returned to the United Kingdom after a two-year hiatus caused by tighter regulatory rules on crypto promotion and marketing. The exchange announced that it has restarted services for UK users, including spot trading across 100 currency pairs, marking a significant step in its global expansion strategy.

The crypto trading platform, which claims more than 80 million users worldwide, exited the UK market after the Financial Conduct Authority (FCA) introduced stricter financial promotion rules in October 2023. Those regulations forced several major crypto firms to suspend or end operations in the country. However, sentiment around digital assets in the UK appears to be shifting, as the government has signaled plans to establish a comprehensive crypto regulatory framework by 2027.

Bybit’s leadership emphasized that the UK remains a critical market due to its mature financial infrastructure and clearer regulatory direction. According to Mykolas Majauskas, senior director of policy at Bybit, the company views the UK as an ideal environment for responsible crypto innovation. He added that Bybit plans to roll out new products specifically designed for UK users while prioritizing transparency, consumer protection, and regulatory compliance.

Although Bybit itself is not directly licensed by the FCA, the exchange stated that it is operating under a structure that complies with UK financial promotion standards. To achieve this, Bybit is marketing and offering its services through Archax, a London-based crypto exchange authorized by the FCA to approve financial promotions. This arrangement allows unlicensed crypto firms to legally access the UK market while meeting regulatory requirements.

Archax has previously supported other major crypto exchanges, including Coinbase and OKX, in navigating the UK’s regulatory landscape. Ben Brown, chief compliance officer at Archax, confirmed that the firm is enabling Bybit’s compliant re-entry into the UK without the need for its own FCA authorization.

Bybit’s return highlights renewed confidence in the UK crypto market and reflects broader regulatory developments that may encourage further institutional and retail crypto adoption in the country.