- The exchange reopened access on Thursday, including spot trading across 100 currency pairs.
- FCA financial promotion rules introduced in October 2023 led several crypto firms to cease operations in the UK.
- The UK government has indicated plans to establish a crypto rulebook by 2027.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced it has resumed services in the UK after roughly two years away, following strict advertising and marketing regulations for crypto products that forced several companies to withdraw from the market.
The company, which serves about 80 million users globally, reopened access in the UK on Thursday with a suite of products that includes spot trading across 100 currency pairs, CoinDesk reported.
This move comes as the Financial Conduct Authority (FCA) continues to scrutinize how crypto services are promoted to UK residents, while the UK government signals an intention to develop a more complete crypto rulebook by 2027.
Why Bybit left and what has changed
In October 2023, the FCA tightened the financial promotion framework for crypto advertising. That change triggered a wave of operational reforms across the industry and prompted multiple firms to wind down their UK activities.
According to CoinDesk, Bybit has structured its return around compliance with the FCA’s financial promotion standards, emphasizing clearer communication and greater transparency for UK users.
The company does not hold a UK license, but says it will operate within a framework that complies with the FCA’s promotional requirements.
That framework matters because, under the rules, marketing crypto assets to UK consumers generally requires approval by an authorized firm unless an exception applies.
What UK users can access now
CoinDesk reports that UK customers can again access Bybit’s services, including spot trading across 100 currency pairs.
The exchange describes this relaunch not as a limited pilot but as a full return to the UK market following regulatory changes.
Bybit’s policy team characterizes the UK as a sophisticated financial market with clearer regulatory direction. The exchange says it will prioritize transparency and compliance while introducing products tailored for UK users.
How Archax enables compliant crypto promotions
To support its UK operations, Bybit will operate and market services through Archax, a London-based crypto exchange.
Archax holds specific FCA permissions and can approve financial promotions. That authorization allows otherwise non-authorized firms to lawfully market and provide services to UK consumers under the approved framework.
Archax said it is facilitating Bybit’s compliant access to the UK market and pointed to past instances where it helped other major exchanges reach UK users without those exchanges holding their own approvals.
What the 2027 crypto rulebook signal means
Alongside stricter FCA promotion policies, the UK government’s pledge to publish a comprehensive crypto rulebook by 2027 raises expectations for a clearer operational environment for exchanges.
The announcement suggests marketing standards will remain a key gatekeeper for consumer-facing activity in the near term, while the broader regulatory framework evolves.
Industry observers view this arrangement as a test case for how major crypto platforms can re-enter the UK without holding direct regulatory permissions, relying instead on partnerships that meet evolving financial promotion oversight.