Bybit has responded to its inclusion on Singapore's Investor Alert List. The company disclosed that it has taken note of Bybit Fintech Limited being added to the Monetary Authority of Singapore's (MAS) Investor Alert List and is communicating with the regulator to understand the basis for this inclusion.
MAS has placed it on its warning list.
On June 17, MAS added Bybit and Bybit Fintech Limited to its Investor Alert List. This list is intended to alert the public that these entities may be mistakenly believed to be licensed, authorized, or regulated in Singapore.
The MAS website states that being listed does not automatically mean that the institution has violated Singapore law. The main purpose of the list is to remind investors to verify the regulatory status of the institution before using related services.
Bybit says it has restricted Singaporean users.
Bybit stated that it has been taking measures to prevent Singaporean users from accessing its services. These measures include setting restrictions in the terms of service and geo-blocking Singaporean IP addresses.
The company stated that Bybit does not provide services to users in Singapore and that it has maintained communication with MAS in the past and will continue to cooperate with regulatory agencies in various regions.
- The Terms of Service already include restrictions for Singapore users.
- The platform claims it has blocked access from Singapore IP addresses.
- We are currently seeking clarification from MAS regarding the basis for the listing.
The list has not yet been removed.
As of now, MAS has not publicly explained the specific reasons for including Bybit on the list. Meanwhile, Bybit emphasized in its response that the platform already has access restrictions for Singaporean users, which has drawn even more attention to the background of this listing.
Currently, the relevant warning information remains on the MAS website, and Bybit's communication with regulators continues.
