Overview
- Bybit Fintech Limited and the Bybit trading platform were added to the Monetary Authority of Singapore’s Investor Alert List on Wednesday, June 17, and MAS said the exchange is not licensed to provide services to users in Singapore.
- MAS uses the Investor Alert List to warn the public that an entity may be wrongly perceived as licensed and stressed that the listing is a public caution rather than an enforcement action or a ban.
- Bybit already excludes Singapore from its service jurisdictions and uses geo-blocking of Singapore IP addresses, and the platform has shown no reported disruption to its wider global operations since the listing.
- Regulatory outcomes can differ across the region: Bybit was removed from Malaysia’s alert list in April after engagement with regulators, showing that compliance talks can change a platform’s status.
- MAS advised investors to check its Financial Institutions Directory before using crypto services because users of unlicensed offshore exchanges lack MAS protections for disputes and fund security, and the listing could prompt more exchanges to pursue local licensing or stricter controls.