Bybit Reinforces Commitment to Transparency and Compliance at CRYPTO TALKS. VILNIUS Vol. 2
Dubai, United Arab Emirates, December 4th, 2024, Chainwire
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, recently demonstrated its unwavering dedication to fostering a transparent and sustainable crypto ecosystem at CRYPTO TALKS. VILNIUS Vol. 2. This event, held on November 27, 2024, in collaboration with the Crypto Economy Organisation (CEO), brought together industry experts to delve into the ever-evolving regulatory landscape in Europe, with a specific focus on the Markets in Crypto-Assets Regulation (MiCAR / MiCA).
Navigating MiCAR’s Complexities
Bybit shared invaluable insights into the challenges encountered by crypto businesses as they navigate the intricate web of MiCAR compliance. These challenges include:
- Interpretational Discrepancies: Differences in interpretation between international and local licensing requirements can result in procedural obstacles and prolonged timelines.
- Complex Legal Frameworks: Coordinating with external legal advisors across various jurisdictions necessitates careful planning and alignment.
- Operational Readiness: Establishing a compliant operational infrastructure demands substantial investments in resources and organizational adjustments.
Commitment to Compliance and Collaboration
Bybit’s active involvement at CRYPTO TALKS. VILNIUS Vol. 2 underscores its prioritization of compliance and its dedication to fostering collaborative relationships with regulatory authorities and industry stakeholders. The exchange views MiCAR as a crucial milestone towards a regulated and resilient crypto market in Europe, aiming to leverage its experiences to facilitate the broader industry’s transition.
“As MiCAR shapes the future of crypto regulation in Europe, collaboration and proactive preparation are essential,” said Robert Macdonald, Chief Legal & Compliance Officer at Bybit. “Bybit is committed to maintaining the highest standards of compliance and supporting regulatory efforts to create a secure and thriving digital asset ecosystem. Sharing our experiences at events like CRYPTO TALKS is part of our broader mission to contribute to a more cohesive industry approach.”
About Bybit
Bybit stands as the world’s second-largest cryptocurrency exchange by trading volume, catering to over 50 million users. Since its establishment in 2018, Bybit has provided a professional platform where crypto investors and traders can access an ultra-fast matching engine, round-the-clock customer service, and multilingual community support. Notably, Bybit proudly partners with Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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Email: tony.au@bybit.com
This article was originally published on Chainwire
With a clear focus on transparency, compliance, and collaboration, Bybit’s participation at CRYPTO TALKS. VILNIUS Vol. 2 underscores its commitment to shaping a regulated and resilient crypto market in Europe. By sharing insights into the complexities of MiCAR compliance, Bybit aims to contribute to a more cohesive industry approach that benefits both businesses and users alike.