Bybit, one of the giants of the crypto ecosystem, has just scored a decisive point: its withdrawal from the AMF black list in France. But behind this victory hides a complex regulatory puzzle, between European ambitions and Asian challenges. A strategic theater that reveals the new priorities of a ready to do anything to conquer Europe.
Bybit vs AMF: the French saga, between shadow and light
In May 2022, the AMF pointed by finger at “non-compliance” of French rules. Two years later, the Crypto platform finally gets out of this blacklist.
A voltary symbolized by a crisp detail: the press release initial AMF, dated May 2024, now has a warning In small characters: “this information is no longer up to date”. Proof that even regulators must sometimes swallow their own dust.
But this withdrawal is not a gift. The Crypto platform had to bend baggage in France, stopping its withdrawal and guard services in January 2025. A radical decision, presented as a “strategic adjustment”. Ben Zhou, CEO of Bybit, has revealed background work with the French authorities since 2022. A bureaucratic marathon to gain confidence … leaving. Ironically fate?
Behind this saga, a clear message: European regulators want flexible actors, not cowboys. Bybit understood. By leaving France, he avoids a sterile showdown and repositions himself as a pioneer of the future Mica regulation. A temporary sacrifice for a long -term gain.
Mica in sight
Mica is the key to dominating the Crypto market. Bybit knows. His mica license request is no coincidence: it is a bet on the future. With this license, the Crypto platform will be able to operate in 27 countries at once. A more precious passport than a Bitcoin at $ 100,000.
But Bybit is not alone on the track. Bitget, his rival, has just obtained a license in Bulgaria and extends its grip in Poland and Lithuania. Hon NG, Bitget Legal Director, confides: “We are aiming for a Mica approval for 2025”. A silent race where every month counts. Bybit must therefore accelerate … or risk being overtaken.
Mica is not a formality. The text requires reinforced controls, increased transparency and liquid reserves. For Bybit, accustomed to navigating in less regulated waters, the adaptation will be painful. But this is the price to pay for seduce European institutions. A dangerous game, where each concession counts. Meanwhile, Trump is boosting an old explosive lever.
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