Bybit Is 'Bringing The Ark' To EU Crypto Hotspot, Secures Custody Services License
Portfolio Pulse from Murtuza Merchant
Bybit has secured a license to operate a crypto exchange and provide custody services in Cyprus, allowing it to offer trading and financial services related to crypto assets. Cyprus is becoming a hotspot for cryptocurrency activities, with EU businesses preparing for the implementation of the Markets in Crypto Assets (MiCA) regulation.
June 26, 2023 | 2:18 pm
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Cyprus previously served as the base for FTX's European division, until its license was revoked following the exchange's sudden downfall in November.
FTX's European division losing its license in Cyprus following the exchange's sudden downfall in November could have a negative impact on FTTUSD. The loss of the license may limit FTX's ability to operate and expand in the European market.
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Binance plans to relinquish its status in Cyprus, possibly as part of a strategic regulatory reorganization in anticipation of MiCA.
Binance's decision to relinquish its status in Cyprus may be part of a strategic regulatory reorganization in anticipation of the upcoming MiCA regulation. This move could have a neutral impact on BNBUSD as it may not directly affect the company's operations or market position.
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IMPORTANCE 50
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