MAS Adds Bybit to Investor Alert List Over Licensing

Singapore’s central bank placed Bybit on its Investor Alert List on June 17, a public warning that the exchange is not licensed to offer regulated services in the city-state.

The Monetary Authority of Singapore said Bybit Fintech Limited and its trading platform were added to the list, which flags entities that could be mistaken for MAS-licensed operators. The list is not an enforcement action or a ban. It is a warning tool based on information available at the time of publication, the regulator said.

Bybit was founded by Singaporean entrepreneur Ben Zhou and ranks as the second-largest crypto exchange by global trading volume. The exchange already restricts Singapore users under its terms of service and geo-blocks local IP addresses, according to its website.

Singapore requires any firm offering digital payment token services to hold authorization under the Payment Services Act. Exchanges operating without approval risk regulatory action if they solicit or serve local residents. MAS directs users to its Financial Institutions Directory to verify whether a platform holds the right licenses.

Bybit's Alert List Placement Signals Heightened Scrutiny, Not an Immediate Ban

The alert does not prevent Bybit from operating globally. The exchange continues offering trading, token listings, proof-of-reserves disclosures, and other products in permitted jurisdictions. No disruption to global operations has been reported.

The listing matters for two reasons. First, it warns local investors that Bybit lacks MAS approval, potentially deterring users who might try to access the platform despite geo-blocks. Second, it signals that MAS is monitoring Bybit’s activities, even after the exchange voluntarily blocked Singapore IP addresses. That scrutiny could complicate any future application for a license, especially after the Bsquared case showed that even approved firms face intense oversight.