Hong Kong’s SFC Adds Bybit to its Warning List
The Hong Kong financial regulator has added Bybit, a cryptocurrency exchange, to its list of “suspicious” virtual asset trading platforms. This comes despite the fact that the exchange’s Hong Kong entity, Spark Fintech, submitted an application for a crypto exchange license earlier this year.
On the SFC’s website, eleven products offered by Bybit are also identified as suspicious, including futures contracts, options, leverage tokens, and more.
The SFC states that these products have been offered to Hong Kong investors, even though Bybit is not licensed or registered to conduct regulated activities in the region.
A Bybit spokesperson said they are unable to comment on any specific products or regulatory inquiries, but assures that products are only available in regions where they meet local compliance requirements and are not available in the Hong Kong market.
