Coinspeaker
Cyprus Grants Crypto License to Bybit
Crypto exchange Bybit has obtained a license from the Cyprus Securities and Exchange Commission (CySEC) to operate a crypto exchange and provide custody services in the island nation. Bybit announced the news on Monday, June 26, stating that it will offer a full suite of services to its Cyprus customers. This will include trading between crypto pairs and fiat currency pairs, financial services related to crypto assets, and custody solutions tailored to clients’ needs.
Bybit: Committed to Compliance
Securing the new crypto license underscores Bybit’s commitment to compliance and regulatory oversight in the crypto industry. The Dubai-based exchange has implemented enhanced KYC and AML procedures. It also obtained the ISO 27001:2013 certification for its robust security management system and launched a real-time, on-chain proof-of-reserves feature with a purpose-built Merkle tree.
Bybit’s Cyprus license approval will enhance its repu
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