Bybit MAS alert list action has placed the crypto exchange on Singapore’s Investor Alert List, alongside Binance and KuCoin, according to the Monetary Authority of Singapore.
The listing does not by itself mean wrongdoing. However, it warns investors that the firm is not authorised to solicit or serve Singapore residents. Bybit said Bybit Fintech Limited is aware of the move. It added that it is engaging MAS to understand the basis for the listing.
Bybit also said it has engaged with MAS openly and constructively. Meanwhile, the latest step adds to a wider push by Singapore to bring crypto firms under its licensing rules.
Bybit MAS Alert List Adds Pressure
Last year, MAS widened licensing rules for locally based digital asset firms. That change covered firms even when they served only overseas clients. As a result, the shift challenged a model used by many global crypto exchanges.
Those firms could no longer use Singapore for talent, credibility and corporate presence while keeping regulated activity elsewhere. Bitget and Bybit have reportedly already moved parts of their local operations out of the country in response.
MAS still allows licensed crypto firms to operate. However, access is becoming more selective. Coinbase and Crypto.com are among the firms that have won local approval and built a regulated presence in Singapore.
Singapore Tightens Crypto Oversight
For firms without approval, MAS is using more tools. These include the Investor Alert List, limits on retail promotion and licence enforcement. Moreover, the regulator has become more selective about who gets and keeps approval.
The source article said Bsquared Technology lost its licence 16 months after approval. That case showed that authorisation is not a one-time milestone. Therefore, the Bybit MAS alert list move adds to signs of tighter supervision in the city-state.
The source also said the listing can carry compliance and reputational effects for firms that want institutional clients, banking ties or regulated partnerships. Bybit said it is engaging MAS to better understand the basis for the listing.
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