Key notes
- Bybit has returned to the UK to offer users its spot and P2P trading service.
- The move comes two years after the UK stepped up its push for crypto adoption.
- The UK Treasury has started working on crypto adoption to match the US’s pro-crypto measures.
Cryptocurrency exchange Bybit has expanded its operations in the UK, aiming to meet the growing demand for digital asset platforms.
It provides its services within a framework designed to meet the financial promotion standards of the Financial Conduct Authority (FCA). The exchange is backed by FCA-authorized firm Archax, which acts as a regulated approver of financial promotions in the UK.
This regulatory arrangement aims to improve transparency and ensure compliance with local AML and KYC requirements for UK users.
Bybit offers spot trading and P2P to UK users
On December 19, Bybit announced its official launch in the United Kingdom, expanding the use of its platform after 2 years of leaving the country.
This development also gives its target users access to Spot trading on 100 pairs and P2P. It is also supported by significant global liquidity and robust operational standards. This comes as the rate of crypto adoption in the UK continues to rise.
Based on current dynamics, the FCA estimates that around 8% of UK adults now own digital assets.
It is clear that these users expect high-quality, reliable platforms, and Bybit is now meeting this demand.
The exchange offers products that support access and provide users with flexibility in how they interact with digital assets.
Mykolas Majauskas, senior policy director at Bybit, noted that the aim of its latest expansion into the UK is to give users reliable access to global digital asset opportunities.
He recognized that the UK is home to one of the most sophisticated financial ecosystems in the world. The region has a clear regulatory focus that makes it an ideal environment for true innovation.
“In the coming months, we aim to embody this spirit of innovation by introducing new products tailored to the needs of UK users, always within a framework prioritizing transparency and compliance,” Majauskas added.
UK Treasury begins work on crypto regulation
One situation that has accelerated the crypto push in the UK is President Donald Trump’s pro-crypto push in the United States.
As soon as Trump began planning his digital assets project in America, the British government stepped up its efforts in favor of the sector.
Recently, the UK Treasury launched major work on regulating cryptocurrencies, with plans to introduce them by 2027.
Under the rules set by the FCA, crypto assets must be regulated in the same way as other financial products.
Rachel Reeves, Chancellor of the Exchequer, said bringing crypto into the regulatory scope is a crucial step in securing the UK’s position as a leading financial center in the digital age.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and innovations aimed at driving mainstream acceptance and global integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
