😱 On January 8, 2025, the cryptocurrency exchange Bybit will stop offering services to French users 🇫🇷

😱 On January 8, 2025, the cryptocurrency exchange Bybit will stop offering services to French users 🇫🇷
No storage or withdrawals.

➡️ Why is this happening❓ — The main reason is increasing regulatory pressure.

➡️ "What happens to the money?" — To close accounts with small balances (less than 10 USDC), Bybit will charge a 10 USDC fee. Larger assets (and “unclaimed” funds) will be transferred to a licensed cryptocurrency custodian in France: the local platform Coinhouse, founded in 2014.

➡️ After January 16, French users with verified Coinhouse accounts will see their assets credited, as long as their account details match those on Bybit.

➡️ Users in France who don’t have a Coinhouse account will need to register and complete the full KYC process.

➡️ Unverified accounts will incur a storage fee of 0.16% of the asset value or 1 USDC per month.

➡️ Important recommendation: To avoid inconvenience and potential access or transfer issues, the company recommended that users withdraw their funds before January 8.

#news #Europe #crypto

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