The cryptocurrency exchange Bybit has announced that it is now allowing overseas Chinese residents to trade on its platform. This decision, made by the Dubai-based company, is part of a larger strategy to attract new users while navigating the complexities of global regulatory oversight. Bybit stated, “This expansion is a response to the increasing demand for secure, reliable, and user-friendly cryptocurrency trading platforms among Chinese expats and international Chinese communities.”
According to the exchange, Chinese expatriates can now create accounts using their national IDs or passports. However, Bybit has implemented a strict policy of rejecting applications from IP addresses in mainland China or associated with Chinese phone numbers. Recently, Bybit made the decision to withdraw its cryptocurrency license application in Hong Kong due to new regulatory standards. The exchange emphasized, “The cryptocurrency market is always changing, and Bybit is dedicated to sustainable growth. We are actively seeking opportunities in various markets.”
