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Bybit stops in the Netherlands? Not completely
For the past few months, Bybit , one of the largest cryptocurrency exchange platforms, has announced the cessation of several of its services in the Netherlands . This decision surprised many traders that used the platform for the trading of derivatives and future .
So, bybit really stops in the Netherlands or is it simply an adaptation to new regulations? What services are still accessible? And what are the best alternatives to Bybit in the Netherlands ? This article answers all these questions.
Table of contents
Why did Bybit stop certain services in the Netherlands?
Although Bybit did not obtain compulsory registration from the DE NEDERLANDSCHE BANK (DNB) to operate in the Netherlands, the platform was forced to stop the offer of certain derivatives , in particular perpetuals , future , options , trading via MT4 , tokens with leverage , as well as various savings and sting . These restrictions have been in force since March 5, 2024 , and all the positions open to these products were automatically closed on March 26, 2024 .
What services of Bybit remain available in the Netherlands?
Despite the absence of direct recording with the DNB, Bybit continues to offer certain services to Dutch users thanks to a strategic partnership with Satos BV , a local company recorded as Virtual Asset Service Provider (VASP) with the DNB. Since September 15, 2023 , Bybit operates in the Netherlands under the brand " Bybit Powered by Satos " , allowing users to access the following services:
- Cash trading (spot trading)
- Trading on margin with a lever effect limited to 10x
- Flexible savings and Stuking ETH 2.0
- Crypto and Fiat deposits and withdrawals
- Access to a platform dedicated to Dutch users via bybit.nl
This collaboration with Satos allows Bybit to continue serving Dutch customers while respecting local regulations. It is important to note that, although Bybit has taken measures to comply with regulatory requirements by transferring its Dutch customers to Satos, the platform has not yet been registered on the list of entities approved directly by the DNB . However, by operating under the license of Satos, Bybit ensures the continuity of its services in the Netherlands in compliance with the legal framework in force.
What sanctions for Bybit in the Netherlands?
The Dutch Financial Markets Authority has sanctioned bybit for license -free operation . In October 2024, the platform received a fine of 2.3 million euros for non-compliance with registration requirements.
However, Bybit has taken steps to obtain MiCA certification (Markets in Crypto-Asets) , which would allow it, once validated, to operate legally throughout the European Union , including in the Netherlands.
In which Bybit countries is it accepted?
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, Canada, 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.
Towards regulation beyond Europe for Bybit
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 licenses and regulations
Bybit has already obtained several regulatory authorizations allowing him to offer his services legally on various international markets. Among the most notable:
- Kazakhstan : Registration with the Astana Financial Services Authority (AFSA) , which allows Bybit to operate as a regulated digital asset trading conservation and investment management services .
- Cyprus : Approval for providing trading and crypto-active trading services , in accordance with European regulatory standards.
- Georgia : Registration as a virtual asset service provider (VASP) with the National Bank of Georgia , thus ensuring its compliance with local regulations.
- Dubai : Obtaining a provisional license from the Virtual Asset Regulatory Authority (VARA) , a key step towards a complete authorization to serve private and institutional investors.
Thanks to these regulatory approvals , Bybit continues to extend its presence in various markets while respecting local legal requirements.
Alternatives to Bybit in the Netherlands
For Netherlands traders seeking a platform in accordance with local regulations, here are three reliable alternatives:
- OKX : A good alternative to Bybit, OKX recently obtained MiCA certification , allowing it to operate in complete compliance in Europe . The platform offers future, options, stoking, trading spots and performance services while guaranteeing high liquidity.
- Bitvavo : European Exchange based in the Netherlands renowned for its transparent and competitive costs, Bitvavo offers an interface adapted to beginners and experienced traders. It presents the particularity of clearly displaying the user the costs and rare applied spreats, allowing all transparency by avoiding costs that certain exchanges tend to hide.
Coinbase : Coinbase offers an intuitive interface, reactive customer service and simplified purchase ease. His commitment to regulation makes it a key player in the European market.
You can also buy your cryptocurrencies directly from a decentralized wallet (Metamask, Exodus, Trust Wallet ) by holding your funds directly on the blockchain.
More information here
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Yohan Uzzan
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
