Just came across the news that Bybit has been ordered to stop operations in Malaysia. Seems like this was due to them failing to register with local authorities. Big move from the government, but what’s caught my attention is how this affects users.
From what’s being said, all KYCd Malaysian accounts are getting suspended, and users need to withdraw their assets before the year wraps up. That’s a tight deadline, and I imagine it’s going to be a hassle for some. Bybit’s statement about “attempting to reconnect with Malaysian users in the indefinite future” also feels pretty vague, almost like they’re not entirely sure about their next steps. Wondering what will be a better option RN
Source;
https://www.theblock.co/post/332552...lt-local-operations-over-registration-failure
Curious how others see this playing out. Could this push more users to local or alternative platforms, or do you think Bybit will eventually find a way back? And for those impacted, how are you planning to navigate this?
From what’s being said, all KYCd Malaysian accounts are getting suspended, and users need to withdraw their assets before the year wraps up. That’s a tight deadline, and I imagine it’s going to be a hassle for some. Bybit’s statement about “attempting to reconnect with Malaysian users in the indefinite future” also feels pretty vague, almost like they’re not entirely sure about their next steps. Wondering what will be a better option RN
Source;
https://www.theblock.co/post/332552...lt-local-operations-over-registration-failure
Curious how others see this playing out. Could this push more users to local or alternative platforms, or do you think Bybit will eventually find a way back? And for those impacted, how are you planning to navigate this?