ByBit, a derivatives-only cryptocurrency trading platform is entering the spot crypto market. The new spot exchange services would support BTCUSDT, ETHUSDT, XRPUSDT, and EOSUSDT trading pairs to begin with, with the biggest surprise being XRP.
The expansion has occurred as the result of a series of regulatory actions against the organization. Bybit’s derivatives business has faced warnings from countries around the world, so the need to expand business scope is a survival tactic instead of a preference.
ByBit exits the UK upon Ban
The first wave of regulators hit ByBit during the initial month of 2021, when the UK’s watchdog, the Financial Conduct Authority’s (FCA) announced a nationwide ban on cryptocurrency derivatives, claiming that the crypto assets being traded and exchanged are financially at high risk, especially for retail consumers.
Following the ban, ByBit announced in March that it will be shutting down its operations in the UK, and users are advised to close accounts
Źródło: https://coingape.com/worlds-largest-derivatives-only-crypto-exchange-enters-spot-market/
