Deniz 
Bybit, a crypto exchange, appears to have established services in the People’s Republic of China, a once-restricted territory.
Reports to social media-based news portal Wu Blockchain Bybit enabled registration and authentication services for Chinese users so they may present their ID, passport, driver’s license, or residency permission to proceed with know-your-customer regulations on the platform.
China was not listed as an excluded jurisdiction for the trade’s operations as of June 5.
Related: Resignations at Bybit Following Notcoin Airdrop Delay
Bybit’s terms of service state that “Bybit does not offer services or products to users in a few excluded jurisdictions, including the United States, the United Kingdom, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Russian-owned regions of Ukraine (currently including the Crimea, Donetsk, and Luhansk regions), Syria, or any other jurisdiction in which we may determine from time to time to terminate the services at our sole discretion.”
Earlier this year, Bybit applied via the local entity Spark Fintech Limited to operate as a virtual asset trading platform in Hong Kong. Since then, the Bybit entity withdrew its registration for Hong Kong.
The Hong Kong Securities and Futures Commission observed early in June that it would not accept services from companies that also serve consumers in mainland China.