Bybit introduces Bybit.nl, a newly regulated cryptocurrency and digital assets trading platform in the Netherlands, as part of its European expansion efforts following regulatory scrutiny in Hong Kong. The platform aims to cater to Dutch users while improving the trading experience and embracing Web3 features.

The official launch of Bybit.nl on March 28 provides Dutch users with access to cryptocurrency trading, educational resources, and advanced trading tools. The platform operates under Dutch regulation and collaborates with SATOS, a prominent Bitcoin-focused company in the Netherlands, to offer users the ability to deposit and withdraw fiat currency, trade over 300 cryptocurrency pairs, and benefit from enhanced security measures.

By launching Bybit.nl, Bybit aims to provide Dutch users with access to exciting new features of Bybit Web3, including the Web3 Wallet and Airdrop Arcade, to enhance their overall crypto experience in the Web3 community. Additionally, Bybit is committed to offering tailored support to the Dutch crypto community and fostering collaboration and innovation through community initiatives.

Ben Zhou, co-founder and CEO of Bybit, expressed excitement about the launch, emphasizing the company's commitment to serving users while adhering to regulatory compliance. This announcement follows a public warning issued by Hong Kong’s Securities and Futures Commission (SFC) on March 14 regarding Bybit's provision of crypto-related products in multiple jurisdictions without proper licensing.

In February 2024, Bybit adjusted its services to comply with regulatory guidelines in the Netherlands, discontinuing derivatives services in the country. This move came in response to regulations set by the Dutch Central Bank, with the first changes taking effect on March 5. The implementation of AMLD5 has led to active enforcement of compliance by the Dutch Central Bank, resulting in notable actions against major exchanges operating without proper registration or compliance.