If you're wondering whether Bybit is legal in Italy , the answer is nuanced. The cryptocurrency trading is not registered with the OAM (Organismo Agenti e Mediatori), the regulatory authority for cryptocurrency service providers in Italy. However, Bybit remains accessible to Italian users , as Italy is not on the platform's list of restricted countries.
However, the lack of official authorization raises questions about the potential risks for users. In this article, we will analyze the regulatory framework , the legal risks involved, and alternatives that comply with Italian regulations.
Italy follows a strict approach to regulating crypto-assets . Two main institutions oversee the activities of exchange platforms:
CONSOB (Commissione Nazionale per le Società e la Borsa): The Italian financial markets authority, responsible for monitoring and regulating financial institutions. It has the power to sanction and prohibit platforms operating without authorization.
The OAM (Organismo Agenti e Mediatori): Responsible for the registration and control of platforms offering cryptocurrency services, ensuring compliance with national and European standards.
Since May 2022, all platforms offering cryptocurrency services to Italian residents must be registered with the OAM ( Financial Markets Authority). This registration aims to ensure transparency, combat money laundering, and protect investors.
Furthermore, CONSOB has strengthened legal tools at its disposal to combat non-compliant platforms. According to Article 7-octies of Legislative Decree 58/1998 , it can:
To publicly publish a notification stating that an entity is not authorized to offer investment services in Italy.
Demand the immediate cessation of illegal activities.
Furthermore, thanks to the Growth Decree (Law No. 58 of June 28, 2019, Article 36, Paragraph 2-terdecies) , CONSOB can order Internet service providers to block platforms operating without authorization . It regularly updates the list of blocked sites and can impose fines of up to €5 million or 3% of the turnover of a non-compliant company (in accordance with Article 191 of Legislative Decree 58/1998).
However, Bybit has not taken the steps to obtain the OAM and is therefore not recognized as a legally authorized service provider to operate in Italy.
The National Commission for Companies and the Stock Exchange (CONSOB) has the power to order the blocking of websites offering financial services without authorization. Since July 2019, CONSOB has blocked more than 1,200 illegal sites .
Currently, Bybit is not blocked by Italian internet service providers, but its lack of registration with the OAM exposes users to risks. In the event of a dispute, legal recourse may be limited.
Italy has a legal framework that allows regulators to block access to unauthorized platforms . CONSOB can therefore request ISPs (Internet Service Providers) to make the site inaccessible from Italy.
Regarding users, no criminal penalties are foreseen for simply using Bybit. However, funds stored on an unauthorized platform may be more difficult to recover in the event of a dispute or sudden closure.
Bybit is currently available in over 160 countries , but some jurisdictions impose restrictions. Among the restricted countries are the United States, Canada , China, Singapore, the United Kingdom , and France , due to strict financial regulations or sanctions. Other regions, such as Crimea, Donetsk, and Luhansk, are also inaccessible due to international sanctions.
On the regulatory front, Bybit is actively seeking official licenses to strengthen its legitimacy in several markets. The platform has announced its efforts to obtain MiCA (Markets in Crypto-Assets) certification in Europe. This certification would grant the platform a financial passport to operate throughout the European Union , including Italy, without having to register with each national regulator. In parallel, it is also aiming for a trading license in Hong Kong , a key market for crypto-assets in Asia. Obtaining these certifications would guarantee better user protection and strengthen the platform's compliance with local financial regulations.
Bybit has obtained several regulatory licenses in key markets , enabling it to comply with financial authority requirements and expand its legal reach. Key authorizations include:
Thanks to these certifications, Bybit continues its development while seeking to align itself with the regulatory standards of the jurisdictions where it is established.
For Italian traders seeking a platform that complies with local regulations, here are three reliable alternatives:
You can invest in cryptocurrencies in Italy with Gemini.
The platform offers:
Gemini therefore allows you to invest in both cryptocurrencies and tokenized stocks, all in a secure and regulated environment.
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While Bybit is accessible in Italy , the platform is not regulated by local authorities . Italian users can therefore use it, but without legal protection in the event of a dispute .
To avoid risks, it is strongly advised to choose platforms regulated by local authorities.
Investments in cryptocurrencies are risky. Crypternon could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a property or service put forward in this article. Readers must do their own research before undertaking any action and investing only within the limits of their financial capacities. Past performance does not guarantee future results. This article does not constitute an investment advice.
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AMF recommendations. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital .
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