Bybit Expands Operations to Argentina as Licensed Crypto Service Provider

Bybit has expanded its operations to Argentina, becoming a licensed Virtual Asset Service Provider (VASP) and card operator.

The license, granted by Argentina’s Financial Intelligence Unit (FIU), allows Bybit to offer its full range of products, including spot and derivatives markets for cryptocurrencies like Bitcoin and Ethereum (ETH). Additionally, Argentine users can now utilize Bybit’s crypto-backed payment cards for managing and spending digital assets.

Bybit assured that its services comply with Argentina’s strict anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. This registration reflects Argentina’s progressive approach to crypto regulation.

In March, the National Securities Commission (CNV) required VASPs to follow the Financial Action Task Force’s (FATF) AML/CFT guidelines.

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Ben Zhou, Co-founder and CEO of Bybit, expressed excitement about the expansion, highlighting their commitment to compliance and supporting Argentina’s economic growth through blockchain technology.

This expansion comes after Bybit’s recent decision to cease operations in France due to new regulatory measures. French users are now restricted to “close-only” mode and must withdraw their assets by August 13. Bybit plans to re-enter the French market once it secures the necessary regulatory licenses.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.