Singapore's regulator has added Bybit to its "blacklist" for investors: what this means for the market
The Monetary Authority of Singapore (MAS) officially included Bybit Fintech Limited and the Bybit platform itself in its Investor Alert List on June 17, 2026. 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 users in Singapore.
This regulatory step is not a ban or an accusation of fraud, but a tool for public information. The MAS Investor Alert List is designed to prevent retail investors from mistakenly mistaking an unlicensed platform for a fully regulated one. Bybit now joins the ranks of giants such as Binance, which was added to this list back in 2021.
Bybit's Position in the Global Market and Singapore Realities
Bybit, founded by Singaporean Ben Zhou, is among the largest exchanges with daily turnover in the billions of dollars. However, the company operates from Dubai and other jurisdictions, and its user agreement explicitly prohibits servicing clients from Singapore. The country has a strict licensing regime for services involving digital payment tokens, enshrined in the Payment Services Act. Without a license, a service is not permitted to offer its services to residents of the country.
Although Bybit already blocks IP addresses from Singapore, the MAS warning concerns the ongoing risks of the platform's availability and perception as legitimate. Choosing foreign exchanges not under MAS control deprives clients of protection in the event of disputes, loss of funds, or unfair treatment by services.
Impact on Users and Market Context
For traders in Singapore, it is clear: MAS recommends checking company licenses in the official register of financial institutions. Notably, this decision came shortly after Bybit achieved successes in other markets. For example, in April 2026, following constructive engagement with the regulator, the platform was removed from the warning list in Malaysia.
Meanwhile, the crypto industry faces questions from regulators amid events such as UK sanctions against HTX. No trading disruptions on Bybit have been reported — the platform operates normally, adds new tokens, and publishes proof-of-reserves reports.
What Awaits Bybit and the Cryptocurrency Market in Singapore
The addition of the platform to the list underscores MAS's position: protecting investor interests and upholding standards remain a priority as rules for the crypto industry tighten. In the near future, exchanges may accelerate service localization or strengthen geographic restrictions. As of publication, Bybit has not publicly commented on its addition to the list.
Expert Commentary: Experience from other platforms shows that in similar situations, exchanges typically enhance regulatory compliance. Regulators traditionally advise investors in Singapore to choose only licensed services to reduce legal and operational risks in the maturing market. The latest information should be checked at mas.gov.sg.