TLDR
- MAS added Bybit Fintech Ltd. to Singapore’s Investor Alert List on June 17.
- The list warns users that Bybit is not licensed or regulated in Singapore.
- Bybit said it is engaging MAS to understand the basis for the listing.
- Bybit said it blocks Singapore users through terms and IP geoblocking.
- MAS has tightened oversight of offshore crypto platforms and unlicensed firms.
The Monetary Authority of Singapore has added Bybit Fintech Ltd. to its Investor Alert List, placing the global crypto exchange under renewed regulatory attention over its lack of local authorization to serve users in the country.
The Investor Alert List is maintained by MAS to identify entities that may have been wrongly perceived as licensed, regulated, or approved by the authority. Inclusion on the list does not by itself confirm misconduct, but it warns the public that the named company is not authorized to provide regulated financial services in Singapore.
Bybit, one of the world’s largest crypto exchanges by user count, said it is aware of the listing and is engaging with MAS to better understand the basis for the decision. The company said it does not offer services to users in Singapore and has maintained measures designed to restrict access from the country.
MAS Flags Bybit as Unlicensed in Singapore
MAS added Bybit Fintech Limited and Bybit to the Investor Alert List on June 17, according to information published on the regulator’s official website. The move comes as Singapore continues tightening oversight of digital asset companies, including offshore platforms that may be accessible to local users.
A MAS spokesperson told Bloomberg that the regulator reviews public feedback and documentary evidence before adding an entity to the list. The authority has previously warned consumers that crypto trading carries high risk and that investors should verify whether firms are properly licensed before using their services.
Singapore has taken a selective approach toward crypto regulation, granting licenses to firms that meet standards covering consumer protection, market conduct, anti-money laundering controls, and operational risk management. At the same time, MAS has placed limits on crypto advertising and public promotion to reduce retail exposure to speculative products.
Bybit has never held a license in Singapore. The MAS listing therefore informs investors that the exchange is not authorized by the regulator, even though it remains active in many other global markets.
Bybit Says It Blocks Singapore User Access
Bybit responded in a public statement, saying it has consistently engaged openly and constructively with MAS. The exchange said it is seeking clarification from the regulator and will provide further updates when appropriate.
The company said it maintains ongoing safeguards to prevent access by Singapore users. Those measures include express restrictions in its Terms of Service and IP-based geoblocking of Singapore addresses.
Bybit also said it does not provide services to users in Singapore. The exchange reiterated that it remains committed to working with regulators across different jurisdictions, as crypto trading platforms face stricter compliance requirements worldwide.
The company serves more than 80 million users globally, which makes its regulatory status in major financial centers closely watched by traders and industry observers. Singapore’s action does not necessarily affect Bybit’s operations elsewhere, but it adds another compliance issue for a major offshore crypto exchange.
Singapore Tightens Crypto Exchange Oversight
The decision follows broader regulatory moves in Singapore aimed at reducing risks linked to unregulated offshore crypto platforms. MAS expanded its licensing framework last year to cover Singapore-based digital asset companies that serve overseas clients, narrowing gaps in supervision.
The regulator has also maintained strict standards for entities seeking Digital Payment Token licenses. Licensed firms must meet rules on customer asset protection, technology risk, financial crime controls, and public conduct.
Singapore remains an active digital asset hub, but its policy direction has focused on regulated institutional use cases rather than unrestricted retail trading. MAS has repeatedly warned that crypto assets are volatile and may not be suitable for retail investors.
Bybit’s placement on the Investor Alert List adds to a growing pattern of regulators identifying exchanges that operate without local permission or are believed to be accessible from restricted markets. For users in Singapore, the listing serves as a notice that Bybit is not regulated by MAS and does not have approval to provide financial services in the country.
The exchange’s next steps may depend on further engagement with MAS and whether the regulator accepts its position that Singapore users are already blocked from the platform.
