The post Important Timeline and Alternative Platforms appeared on BitcoinEthereumNews.com.

Bybit will cease operations in France by September 8 due to new regulatory guidelines. The platform will switch to a ‘close-only’ mode starting August 3. French crypto traders can seek alternative exchanges like Binance, Bitget, and Bitpanda for their trading needs. Crypto exchange Bybit is ceasing operations in France in response to newly enforced regulatory guidelines that have created a challenging environment for cryptocurrency exchanges to operate effectively. As Bybit exits, French crypto enthusiasts will need to find alternative platforms for their cryptocurrency trading activities. Bybit has announced a clear timeline for its orderly withdrawal from the French market. From August 3, 2024, the platform switched to a “close-only” mode, preventing users from opening new positions. By September 8, 2024, Bybit will officially cease all operations in France, requiring users to close any open positions and withdraw their funds by this date. Notably, these regulatory changes, effective from December this year, impose strict Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, along with increased reporting obligations. Facing these stringent regulations, Bybit determined it was not feasible to continue providing its crypto trading services in France. Here are three global crypto exchanges that offer comprehensive services and robust features suitable for a variety of trading needs: Binance Binance ranks as the most prominent crypto exchange by trading volume, supporting over 300 cryptocurrencies, and provides a comprehensive range of services. They include spot trading, futures trading, staking, and lending. The platform has gained increased popularity for its high liquidity, advanced trading tools such as margin trading and DeFi staking, with strong security measures, including two-factor authentication, (2FA). Binance’s commitment to regulatory compliance and its user-friendly interface make it an attractive option for traders of all experience levels. Bitget Launched in 2018, the Bitget exchange has quickly become a reputable name among…

---

Filed under: News - @ August 5, 2024 11:14 am