Bybit Restricted and Supported Countries

What Countries Does Bybit Restrict?

Bybit restricts access to users in several countries due to regulatory constraints, as outlined in Section 11.3 of their Terms of Use.

The platform blocks users from the U.S., China, Hong Kong, Singapore, Canada, France, the U.K., North Korea, Iran, Cuba, Sudan, Syria, and Russian-controlled areas of Ukraine, including Crimea, Donetsk, and Luhansk.

Bybit also bans individuals or entities listed on global sanctions lists like the U.S. Treasury’s Specially Designated Nationals and similar lists from the EU and UK. Misrepresentation of your location can lead to account termination and liquidation of positions.

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Bybit Supported Countries

Bybit supports users in over 180 countries, with major markets including Europe, Russia, Ukraine, South Korea, the Middle East and Japan.

However, some jurisdictions face service restrictions. For example, Bybit recently opened an office in the Netherlands and launched Bybit.nl. While spot trading is available, crypto futures and other derivatives are restricted on this platform, in line with regulations set by the Dutch National Bank (DNB).

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Bybit Licenses and Regulations

Bybit is actively expanding its regulatory compliance efforts across multiple jurisdictions, ensuring adherence to global standards in the exchange industry. Key licenses include:

• Cyprus License: Bybit is licensed to provide cryptocurrency exchange and custody services in Cyprus, aligning with European Union regulations.
• Dubai VARA MVP License: Bybit Fintech FZE, a subsidiary, holds a Minimum Viable Product (MVP) Preparatory License from Dubai's Virtual Assets Regulatory Authority (VARA), demonstrating compliance with UAE regulatory guidelines.
• Astana Financial Services Authority License (Kazakhstan): Bybit has also secured a license from the Astana Financial Services Authority, allowing it to operate within Kazakhstan’s regulatory framework.

These regulatory achievements reflect Bybit's commitment to operating transparently and lawfully across its global markets.

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Does Bybit Require KYC?

Bybit does require KYC for access to most of its features. Without KYC, you're limited to crypto deposits and withdrawals with a cap of 20K USDT daily and 100K USDT monthly. 

To unlock full services like spot trading, margin trading, and higher withdrawal limits (up to 4M USDT daily), you’ll need to complete KYC Level 1 or 2. KYC is also needed to access Bybit’s Earn products, participate in Launchpad events, and trade derivatives like futures and options.

If you want full access to everything Bybit offers, completing KYC is a must.

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Can I Use Bybit in the USA or the UK?

No, you can't use Bybit in the USA or the UK. Bybit blocks users from the US due to regulatory restrictions. In the UK, Bybit suspended operations in response to new Financial Conduct Authority (FCA) rules on crypto promotions.

If you're in either country, you'll need to explore other crypto exchanges that meet local regulations.

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Bottom Line

Bybit's operations are heavily influenced by global regulations, restricting access in key markets like the U.S., UK, and China. Despite these limitations, the platform is securing licenses in regions such as Cyprus, Dubai, and Kazakhstan, strengthening its regulatory foothold. 

Completing Bybit’s KYC is essential to unlock its full range of services, ensuring compliance and security. To fully engage with Bybit, understanding these restrictions and KYC requirements is critical.