No, Bybit is no longer accessible in Canada . Since July 31, 2023, the platform has suspended all of its services for Canadian users , invoking a regulatory framework that has become too restrictive. This decision is part of a wave of exchanges withdrawals from the Canadian market, like Binance and dYdX , following the implementation of new rules in February 2023.
If you are looking for a platform in accordance with Canadian regulations , several alternatives are available. This article explores the reasons for the departure of Bybit , the implications for Canadian traders and the best legal alternatives to use in Canada.
In February 2023, the Canadian authorities brought up new regulations for companies in the cryptocurrency sector. These measures, implemented by regulatory organizations such as the Canada Securities Commission (CVM) and the Canada Financial Operations Analysis Center (FINTRAC) , include:
These rules forced several international exchanges to leave Canada, considering that they made the exploitation of their activity too complex or economically non -viable .
Bybit has always sought to comply with local regulations, but the new Canadian constraints prompted him to make a radical decision. In an official press release , the company said:
“Bybit’s main objective has always been to operate our business in accordance with all relevant rules and regulations in Canada. In light of recent regulatory developments, Bybit has made the difficult decision but necessary to suspend the availability of our products and services. »»
As of July 31, 2023 , Canadian users could no longer make deposits or open new positions . They had until September 30, 2023 to close their existing positions, under penalty of forced liquidation .
The departure of bybit from Canada means that the country's residents can no longer:
On the other hand, withdrawals remain possible , allowing Canadian users to recover their funds and transfer them to another legal platform.
Technically, some traders use VPNs to bypass geographic restrictions. However, this violates the conditions of use of Bybit , and the exchange could suspend or freeze a detected account as being in Canada .
In addition, in the event of a dispute or a technical problem, you will not benefit from any protection of Canadian regulators, which can expose your funds to significant risks.
Bybit is available in more than 160 countries , but some jurisdictions impose strict restrictions on him. Among the territories where the platform is restricted , we find the United States, China, Singapore, the United Kingdom and France , due to rigorous regulatory frameworks or sanctions. Other regions, such as Crimea, Donetsk and Luhansk , are also prohibited from access for geopolitical reasons.
In parallel, Bybit works on the acquisition of additional licenses, especially in Hong Kong , a major hub for cryptocurrency in Asia. These approaches aim to strengthen the protection of users and guarantee the compliance of the platform against local regulations.
Bybit has already obtained several regulatory authorizations allowing him to offer his services legally on various international markets. Among the most notable:
Thanks to these regulatory approvals , Bybit continues to extend its presence in various markets while respecting local legal requirements.
Bybit is now inaccessible in Canada , it is essential to turn to platforms in accordance with local regulations . Here are three exchanges recorded with Canadian regulators , who offer a reliable and secure experience.
Coinbase is one of the most famous cryptocurrency platforms in the world, and is registered with Canadian authorities . She offers:
✔ An intuitive interface , perfect for beginners.
✔ A wide choice of cryptocurrencies accessible to purchase and sale.
✔ Strict regulatory compliance , ensuring user safety.
👉 Why choose Coinbase ?
Coinbase has become a global reference, ideal for those who favor simplicity and reliability .
Coinsquare is an exchange based in Canada , recorded with Fintrac , guaranteeing its compliance with local regulations. It offers:
✔ A secure platform with advanced conservation standards.
✔ A diversified choice of cryptocurrencies .
✔ Competitive costs compared to other centralized platforms.
👉 Why choose Coinsquare?
It is one of the few Canadian exchanges to have resisted new regulations, making it an option of confidence for residents of the country.
Netcoins is another platform recorded with the Fintrac , which is distinguished by:
✔ An easy -to -use interface , ideal for beginner investors.
✔ A selection of popular cryptocurrencies .
✔ Strict compliance with Canadian laws , guaranteeing increased security.
👉 Why choose Netcoins?
It is a regulated platform that allows Canadians to buy, sell and exchange cryptos legally .
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In 2025 , Bybit was no longer legal in Canada , due to the restrictions imposed by regulators. If you are a Canadian trader , it is essential to turn to alternatives in accordance with local requirements.
The three best options are:
✅ Coinbase - a global, intuitive and compliant platform.
✅ Coinsquare - a secure and regulated Canadian Exchange.
✅ Netcoins - A reliable alternative with a simplified interface.
If you wish to continue to trader legally and safely in Canada, favor these platforms rather than trying to access Bybit in a diverted way. Your financial security comes above all.
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