France's financial regulator, the Autorité des Marchés Financiers (AMF), has issued a cautionary notice regarding the popular cryptocurrency exchange Bybit. The regulator has advised customers to be ready in case the platform ceases to cater to French users abruptly.

In a recent announcement, the AMF stated that Bybit lacks registration as a digital asset service provider (DASP), making its operations in France illegal. Bybit has been under the AMF's watchlist since May 20, 2022, following allegations of illicit activities by regulatory authorities.

The AMF emphasized its authority to potentially take legal measures to block access to Bybit's website under the Monetary and Financial Law. It also recommended that individual investors take necessary precautions to prevent any potential loss of access to their assets.

This caution from the AMF aligns with a similar advisory issued by Hong Kong's financial regulator against Bybit. In March, the Securities and Futures Commission (SFC) of Hong Kong included Bybit in its roster of suspicious cryptocurrency exchanges, cautioning the public about its unlicensed status.

Bybit's exit from Canada and the United Kingdom last year was a result of regulatory pressures in those regions, further highlighting the challenges faced by unlicensed cryptocurrency exchanges in complying with regulatory frameworks.