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Saturday, June 8, 2024
HomeCryptoBybit exchange allows Chinese users living abroad to trade on its platform

Bybit exchange allows Chinese users living abroad to trade on its platform

Bybit exchange allows Chinese citizens living abroad to register accounts, even as the country still imposes a ban on cryptocurrencies.

In an official statement today, the world’s second largest cryptocurrency exchange Bybit has begun allowing mainland Chinese citizens living abroad to trade on its platform.

The company is trying to attract new users amid a strict cryptocurrency trading ban in the country and growing regulatory scrutiny worldwide.

Bybit’s registration page shows users can register using mainland Chinese identification documents, including national ID and passport. However, the exchange continues to block accounts originating from Chinese IP addresses or tied to phone numbers in the country.

When asked about the methods they are using to verify whether Chinese users live abroad, Bybit declined to comment in addition to committing to comply with all applicable regulations in the markets in which we operate.

Previously, Chinese cryptocurrency journalist, Wu Blockchain reported that the Bybit exchange had opened registration to users in China, sparking speculation that the country was easing the crackdown on cryptocurrencies.

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Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.


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