Singapore Regulator Adds Crypto Exchange Bybit to Warning List

Singapore's main financial regulator has flagged crypto exchange Bybit, warning the public that the company is not licensed or approved to operate in the country.

On Wednesday, the Monetary Authority of Singapore (MAS) — the government body that supervises banks, financial firms, and crypto companies in Singapore — added Bybit to its Investor Alert List. This is a public list that warns ordinary people about companies that might be wrongly seen as being officially licensed or approved by MAS, when they actually are not.

Both "Bybit Fintech Limited" (the official company behind the exchange) and "Bybit" itself appeared on the list. Interestingly, MAS did not give a specific reason for adding them.

Here are the key facts:

• Bybit is a crypto exchange (an online platform where people buy and sell cryptocurrencies like Bitcoin).
• It is not licensed or regulated by MAS, based on public records.
• Bybit was founded by Ben Zhou, a Singaporean entrepreneur — but the exchange does not actually operate in Singapore.
• Singapore is listed as a "Service Restricted Country" on Bybit's own website, meaning people there are not allowed to use its services.

Why does this matter? The alert is mainly a warning to consumers. Because Bybit's founder is Singaporean, some people might mistakenly believe the exchange is approved by Singapore's authorities. The MAS list makes clear that it is not.

Singapore is known as a major global crypto hub (a center where lots of cryptocurrency business happens), especially for big institutions. However, the country keeps strict rules for protecting everyday consumers. In May, MAS even cancelled a license held by another financial firm, showing how seriously it takes oversight.

In short: If you live in Singapore, this is a reminder that Bybit is neither licensed there nor available to use. Cointelegraph contacted Bybit for comment but had not received a response at the time of publishing.

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