Bybit considers leaving the UK market as new regulations come into effect.
The FCA has contacted all the major players including Bybit, OKX, Binance and Binance to ask them how they plan to comply with the new law.
The new law makes it illegal for financial companies to offer reverse solicitation which was one of the few techniques firms used to skirt the previous laws.
Bybit will likely have to retreat from the U.K. market.
Bybit joins other crypto exchanges such as Luno and HiCoin to announce plans to halt certain clients from investing in crypto on Oct 6, two days before the new regulations take effect.
In the aftermath of these announcements, the broader market feels the impact of the new rules.
Many traders and exchanges are delaying investments and introducing new features such as trading in ETH/ETH futures.
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