The Monetary Authority of Singapore added Bybit Fintech Ltd. to its investor alert list on Wednesday, as the city-state steps up scrutiny of unlicensed cryptocurrency exchanges.
Bybit — a global cryptocurrency exchange — has never been licensed to operate in the city. The MAS said the list includes entities that may have been incorrectly perceived as being licensed or authorized by the central bank. Inclusion on the list doesn’t imply wrongdoing, but gives added emphasis that these firms cannot legally provide financial services to Singaporeans.