Bybit Returns to UK Market with 100+ Trading Pairs After Two-Year Absence

TLDR:

• Bybit resumes UK operations after two years, offering spot trading on over 100 currency pairs
• Exchange operates under Archax’s FCA-approved framework without direct regulatory authorization
• UK government plans comprehensive crypto rulebook by 2027, signaling regulatory evolution ahead
• Partnership model enables international exchanges to serve 80 million users in UK market compliantly

Bybit has officially returned to the United Kingdom market after a two-year absence. The world’s second-largest cryptocurrency exchange by trading volume resumed operations on Thursday. 

The platform now offers spot trading on more than 100 currency pairs for British users. The exchange departed the UK in 2023 following stricter regulatory requirements around crypto promotion.

However, the company has now adopted a compliance framework to meet Financial Conduct Authority standards.

Regulatory Partnership Enables Market Access

Bybit reentered the UK market through a strategic arrangement with London-based exchange Archax. 

The platform itself does not hold direct authorization from the FCA. Instead, it operates under Archax’s regulatory umbrella to provide services to UK consumers. 

Archax holds a special license that allows it to approve financial promotions for unauthorized firms.

Ben Brown, Archax’s chief compliance officer, confirmed the partnership arrangement. “Archax is supporting Bybit’s compliant access to the UK market, building on our experience where we have previously helped other leading crypto exchanges, such as Coinbase and OKX, access the UK market without the need for their own authorisation,” Brown stated via email. 

The firm has facilitated similar frameworks for other major exchanges seeking UK market entry. This approach allows international platforms to operate without obtaining individual FCA authorization.

The arrangement ensures Bybit meets financial promotion standards while maintaining regulatory compliance.

 Archax’s approval framework provides a compliant pathway for crypto services in the jurisdiction. This structure has become increasingly common among exchanges seeking UK market access.

Industry Outlook Shows Regulatory Evolution

The UK government recently announced plans to establish a comprehensive crypto rulebook by 2027. 

This timeline suggests a more structured approach to digital asset regulation. The October 2023 rules previously forced several crypto firms to exit the market. Nevertheless, the regulatory environment appears to be evolving toward greater clarity.

Mykolas Majauskas, Bybit’s senior director of policy, expressed optimism about the UK’s regulatory direction. “The UK is home to one of the most sophisticated financial ecosystems in the world, and its clear regulatory direction makes it an ideal environment for responsible innovation,” Majauskas stated. 

The exchange plans to introduce new products tailored to UK users within a framework prioritizing transparency and compliance.

Bybit currently serves approximately 80 million users across global markets. The platform’s return marks a notable development in the UK crypto landscape. 

The relaunch provides British traders access to digital assets through spot trading on over 100 currency pairs.

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