ByBit exchange banned in France for regulatory concerns

From Cointelegraph

August 1, 2024 6:04:21 pm:

ByBit, a popular cryptocurrency exchange, has been banned by the Autorité des Marchés Financiers (AMF) since 2022 due to regulatory concerns.

The AMF has filed a complaint against ByBit for allegedly failing to comply with French financial laws and regulations.

ByBit faces fines of up to 1.5 million euros if found guilty of violating French financial laws.

The AMF has also accused ByBit of promoting risky investments to the French public without proper authorization.

ByBit has denied the allegations and is in the process of appealing the ban imposed by the French regulator.

Read more at CoinDesk.: ByBit exchange halts operations in France