The Securities and Futures Commission (SFC) of Hong Kong has marked a popular cryptocurrency exchange as “suspicious.”
SFC updated its list of “suspicious cryptocurrency exchanges” on Thursday, March 14. Following the update, cryptocurrency exchange Bybit was added to this list.
SFC also identified 11 products offered by Bybit as suspicious. SFC emphasized that Bybit and its affiliates are operating without obtaining any licensing.
Among the 11 Bybit products listed in the warning, Bybit Futures Contracts and Inverse Futures Contracts, Bybit Options, Bybit Leveraged Tokens, Binary Asset, Binary Asset 2.0, Bybit Shark Fin, Liquidity Mining, ETH 2.0 Liquid Staking, Bybit Web3 Staking, Bybit Borrowing, and Bybit Asset Management were included.
The SFC statement on the matter included the following:
SFC is concerned that these products may have been offered to Hong Kong investors, and it wishes to make it clear that no part of the Bybit group is licensed by the SFC to carry on “regulated activities” in Hong Kong or registered with the SFC.
In response to the regulatory body’s move, a Bybit spokesperson made an indirect comment:
At the moment, we cannot comment on any specific product or regulatory investigation. As various products are listed for different regions to meet local compliance requirements, you can be sure that these products are not available in the Hong Kong market.
