Singapore’s Monetary Authority has added cryptocurrency exchange Bybit to its Investor Alert List, joining Binance and KuCoin as offshore platforms flagged for operating without local authorization. The move, announced June 18, 2026, does not confirm wrongdoing but formally warns Singapore residents that these platforms are not licensed to serve them. Bybit stated it is engaging with MAS to understand the listing basis.
This action extends Singapore’s broader regulatory tightening on crypto firms. Last year, MAS expanded licensing requirements to cover locally-based digital asset companies even when serving only foreign clients, disrupting the hub-and-spoke model many exchanges relied upon. Bitget and Bybit have reportedly begun relocating operations out of Singapore in response. Meanwhile, compliant operators like Coinbase and Crypto.com maintain regulated status in the city-state.
The regulatory pressure creates a widening divide between licensed and unlicensed platforms, with MAS demonstrating that authorization can be revoked after approval.
FXnCO Insight
Licensed brokers should position themselves to capture institutional and high-value retail clients migrating away from flagged offshore exchanges seeking compliant digital asset access.
Source: Finance Magnates