Singapore's regulator has added Bybit to its "blacklist": what this means for investors
On June 17, 2026, the Monetary Authority of Singapore (MAS) officially added Bybit Fintech Limited and its trading platform Bybit to its "Investor Alert List." This means that the world's second-largest cryptocurrency exchange by trading volume does not hold a MAS license and is not regulated to provide services to Singaporean users.
What is the MAS Investor Alert List and why is it important?
This registry is not a ban or an accusation of fraud, but a tool for public information. MAS warns that companies on this list "may be mistakenly perceived as having a license or approval" from the regulator. Bybit now falls into the same category as Binance, which was added back in 2021.
It is important to understand: this is not a court ruling or a blockade. It is a signal to the market, and primarily to retail investors, that the platform does not meet local regulatory standards and does not provide the guarantees that licensed financial institutions are required to offer.
Global giant vs. local rules
Bybit, founded by Singaporean Ben Zhou, is one of the largest exchanges with a daily turnover of billions of dollars. The company is based in Dubai and other jurisdictions, and its user agreement explicitly prohibits servicing clients from Singapore. The exchange already blocks IP addresses from this country, but as practice shows, technical restrictions are not always effective.
Singapore is one of the strictest markets for crypto services. The Payment Services Act (PSA) requires all providers of digital payment token services to obtain mandatory licensing. Operating without a license carries serious consequences, including criminal liability.
Context and consequences
Notably, this warning comes amid Bybit's recent successes in other regions. In April 2026, the exchange was removed from a similar warning list in Malaysia following constructive dialogue with the local regulator. However, the situation in Singapore is different: here, the regulator is consistently tightening rules, and leniency toward global platforms is minimal.
For Singaporean traders, the choice is clear: using unlicensed foreign exchanges deprives them of protection in the event of disputes, loss of funds, or unfair service conduct. MAS recommends always checking for a license in the official register of financial institutions.
My comment: The inclusion of Bybit in the MAS warning list is not just a bureaucratic formality. It is a clear signal to the market that Singapore will not tolerate gray areas, even when it comes to the world's top-2 exchange. For Bybit, this means the path to legal operation in this financial hub will be long and difficult. Investors should remember: regulation is not an enemy, but a shield, especially in such a volatile and unpredictable market as cryptocurrencies.