Monat: Dezember 2025

• The exchange restarted access on Thursday, including spot trading across 100 currency pairs.
• FCA financial promotion rules introduced in October 2023 led several crypto firms to end UK operations.
• The UK government has said it intends to establish a crypto rulebook by 2027.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, says it has restarted services in the UK, nearly two years after tougher rules on the promotion and marketing of crypto products pushed firms to pull back.

The company, which says it has around 80 million users globally, relaunched UK access on Thursday with a set of products that includes spot trading across 100 currency pairs, reports CoinDesk.

The move comes as the Financial Conduct Authority continues to scrutinise how crypto services are advertised to British residents, while the UK government has signalled it wants a fuller crypto rulebook in place by 2027.

Why Bybit left and what changed

The FCA tightened its financial promotion regime for crypto advertising in October 2023, triggering a wave of operational changes across the industry and prompting several firms to end UK activity.

According to CoinDesk, Bybit said its return is built around meeting FCA financial promotion standards, with an emphasis on clearer communications and transparency for UK users.

The company is not licensed in the UK, but says it is operating within a framework designed to comply with the FCA’s requirements for promotions.

That framework matters because, under the rules, crypto marketing aimed at UK consumers must be approved by an authorised firm unless an exemption applies.

What UK users can access now

Bybit said UK customers can again use its services, including spot trading across 100 currency pairs, notes CoinDesk.

The exchange described the restart as a reopening of UK services rather than a limited pilot, positioning it as a return to the market after the regulatory shift.

Bybit’s policy team framed the UK as a market with a sophisticated financial ecosystem and a clearer regulatory direction, saying the exchange intends to introduce products tailored for UK users while prioritising transparency and compliance.

How Archax is enabling compliant crypto promotion

To support its UK activity, Bybit will operate and market its services via London-based crypto exchange Archax.

Archax holds a specific FCA permission that allows it to approve financial promotions, a route that can enable unauthorised firms to legally market and provide services to UK consumers.

Archax said it is supporting Bybit’s compliant access to the UK market and pointed to prior work helping other large exchanges, states CoinDesk,  including Coinbase and OKX, reach UK users without needing their own authorisation.

What the 2027 crypto rulebook signal means

Alongside the FCA’s stricter approach to promotions, the UK government has said it intends to establish a crypto rulebook by 2027.

That announcement has fuelled expectations of a more defined operating environment for exchanges, even as marketing standards remain a key gatekeeper for consumer-facing activity in the near term.

Industry watchers see the arrangement as another test case for how large global crypto platforms re-enter the UK without holding direct regulatory authorisation under evolving financial promotion oversight regimes globally.

The post Bybit returns to UK crypto market after 2 years appeared first on CoinJournal.

• Michael Selig is confirmed as CFTC chair, ending a long interim period at the US derivatives regulator.
• Selig signals a narrower enforcement focus as Congress weighs expanding the CFTC’s crypto authority.
• Leadership change comes as debate intensifies over digital assets and US market structure rules.

After nearly a year of temporary leadership, Michael Selig was confirmed by the US Senate on December 18 and will soon be sworn in as the 15th chairman of the Commodity Futures Trading Commission

His appointment brings an end to an extended interim period at the derivatives market regulator and places a familiar figure back at the centre of US market oversight.

Selig’s confirmation comes as policymakers and market participants closely track how the CFTC will position itself amid ongoing debates over digital assets, market structure, and regulatory coordination.

With Congress weighing legislation that could significantly expand the agency’s authority, the timing of the leadership change is drawing heightened attention across traditional and crypto markets.

Return to a familiar regulator

Selig’s professional ties to the CFTC run deep.

He first joined the agency in 2014, serving as a law clerk to then-Commissioner Christopher Giancarlo, who later became chairman.

After leaving the agency, Selig moved into private practice, where he advised trading firms, exchanges, and digital asset companies on compliance with US securities and commodities laws.

Earlier this year, Selig returned to government service as chief counsel to the Securities and Exchange Commission’s Crypto Task Force.

In that role, he acted as a senior advisor to Chairman Paul Atkins and was involved in inter-agency discussions on supervising digital asset markets, placing him at the intersection of securities and commodities regulation.

Leadership transition at the CFTC

Selig will succeed Caroline Pham, who has served as acting chair for much of 2025.

For several months, Pham was also the CFTC’s only Senate-confirmed commissioner, a situation that underscored the agency’s leadership vacuum during a period of regulatory change.

Under Pham’s tenure, the CFTC continued to operate but with limited long-term direction, as major policy decisions awaited permanent leadership.

Selig’s confirmation restores a Senate-backed chair at a moment when the commission’s mandate could soon broaden.

Enforcement direction and priorities

During his confirmation hearing, Selig signalled support for a more targeted enforcement strategy.

He argued that focusing on minor technical violations can consume agency resources and encourage legitimate firms to move operations offshore, without materially improving market integrity.

At the same time, he emphasised that the CFTC must remain active in pursuing fraud, manipulation, and abusive conduct.

His stated approach aligns closely with policies advanced under Pham, where enforcement efforts were narrowed to prioritise complex fraud cases and retail harm rather than paperwork-based violations.

Over the past year, the CFTC also revised its investigation procedures to provide firms with greater transparency and additional time during enforcement processes, reflecting a shift in regulatory tone.

Crypto oversight and legislative backdrop

On digital assets, Selig is expected to continue efforts to bring crypto-related activity into regulated US markets.

The CFTC has already launched pilot initiatives covering tokenised collateral and listed spot crypto products on regulated exchanges.

Selig has previously supported clearer market structure rules and stronger coordination with the SEC, the Treasury Department, and banking regulators.

His confirmation coincides with congressional debate over bills that could grant the CFTC primary oversight of spot crypto commodity markets, potentially expanding the agency’s role at a critical stage in crypto regulation.

With a full agenda and limited transition time, Selig’s early decisions will be closely watched across financial markets.

The post Michael Selig confirmed as CFTC chair, ending interim leadership period appeared first on CoinJournal.