Bybit’s Strategic Relaunch in the UK: A Thoughtful Comeback

Bybit, the leading cryptocurrency exchange, recently marked a significant milestone by re-entering the UK market. This relaunch comes after the exchange’s suspension of UK services in 2023 due to newly implemented financial promotion regulations. However, contrary to a hasty market entry, Bybit emphasizes a carefully planned approach centered on readiness rather than speed.

A Long-term Commitment

Mykolas Majauskas, Senior Policy Director at Bybit, is clear about the company’s intentions. The re-entry into the UK isn’t a mere effort to reclaim lost market share; rather, it points to a strategic long-term commitment to the region. According to Mykolas, Bybit’s decision arose from meticulous preparation in compliance, governance, and customer protection. He expressed confidence that the exchange can now operate in accordance with local expectations.

“The UK remains a strategically important market, with a sophisticated user base and a regulatory environment that is moving toward greater clarity and structure,” Mykolas emphasized to Block of Fame.

This insight highlights Bybit’s focus on establishing a solid foundation before pursuing aggressive market expansion.

A Calculated Approach to Regulation

In the evolving landscape of the UK crypto market, regulatory compliance has moved to the forefront. Post-2023, the UK has adopted a multi-layered regulatory framework requiring crypto firms to comply with anti-money-laundering (AML) registrations and stringent financial-promotion rules. While Bybit has successfully navigated these preliminary obligations, it’s notable that it will not possess full FCA authorization. Instead, Bybit will collaborate with Archax, a UK-authorized partner, to market its services, thereby adhering to the FCA’s promotion requirements.

Mykolas reflects on this phased approach, stating, “We see the UK as a strategic, long-term market. Our current strategy involves working with established partners while we strengthen our operational foundations.”

Products Driven by Local Needs

When discussing what services Bybit will provide to UK users, Mykolas is explicit: local requirements will dictate product availability. This implies that offerings may initially be more limited and closely regulated, ensuring clear risk disclosures and protections for users.

“Services available to UK users are shaped by local requirements first,” he explained, underscoring the interplay between regulation and product design.

Initially, Bybit plans to offer spot trading on 100 pairs and P2P trading, with more complex products potentially following as regulatory frameworks grow clearer.

Marketing Under New Standards

Bybit’s re-emergence in the UK marketplace holds significance in the context of regulatory clarity. Recently, the Financial Conduct Authority (FCA) launched a broad public consultation to establish new crypto rules, covering diverse aspects from market abuse controls to platform standards. Mykolas notes that new compliance requirements have transformed the operational landscape.

“Our operations now are structured around strict marketing standards, enhanced internal controls, and a clearer separation between global and UK-specific user journeys,” he stated.

This change reflects a larger transitional phase for crypto platforms within the UK, implying that user engagement strategies must adapt to the increasing sophistication and maturity of the market.

The Evolution of Crypto Engagement in the UK

From a broader perspective, Bybit’s timing aligns with shifting user behavior in the UK crypto space. The FCA’s recent research shows a notable decline in crypto ownership among UK adults, from 12% in 2024 to around 8% in 2025. However, average holdings have increased, indicating a consolidation among a smaller, yet more committed pool of participants.

Mykolas observes, “The UK market is entering a phase of maturity, with users placing greater emphasis on credibility, risk management, and long-term participation rather than short-term speculation.” This evolution is crucial for crypto platforms aiming to win long-term loyalty from their user bases.

Building Trust and Transparency

As Bybit integrates itself back into the UK market, the focus on trust and transparency becomes paramount. The company understands that gaining market share is no longer merely about a wide array of products or aggressive promotional tactics; instead, it hinges on establishing operational resilience in a landscape marked by stringent regulatory scrutiny.

In the words of Mykolas, Bybit’s decision was not simply about timing but about being “ready.” As the regulatory landscape shifts and user expectations evolve, readiness could emerge as the most significant competitive advantage for cryptocurrency exchanges navigating this complex environment.