Nils Silinevics
Partner · AML & Crypto Compliance · Former FIU Investigator
Bybit has exited the United Kingdom market. Bybit withdrew from UK (2023) after FCA Financial Promotions Regime; UK customers given 90 days to withdraw If your funds are stuck, Swiss lawyers can pursue cross-jurisdictional action. Free case review within 24 hours.
Bybit withdrew from UK (2023) after FCA Financial Promotions Regime; UK customers given 90 days to withdraw
FCA's cryptoasset register is mandatory — only registered firms can market crypto to UK consumers; FCA has warned 300+ firms for operating without registration
This matters because it determines which regulatory body has authority over your case — and whether you have a direct complaint path or need cross-jurisdictional legal action.
What this means for you: Bybit has exited United Kingdom, but your funds should have been returned during the exit process. If they weren't, we pursue cross-jurisdictional legal action against Bybit in its home jurisdiction (Dubai, UAE (formerly British Virgin Islands)).
The exit doesn't erase your rights. Under Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, Bybit must return customer funds before exiting. If they froze your account and then exited, that's a compliance failure we can challenge.
under MLR 2017, you can complain to the Financial Ombudsman Service (FOS) if the exchange is FCA-registered — FOS can award up to £430,000 compensation
Under Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLR 2017, amended), Bybit must conduct customer due diligence and can freeze accounts during AML investigations. However, they must also:
If Bybit doesn't meet these obligations, we escalate to Financial Conduct Authority (FCA) and file a formal legal submission. For a broader comparison of how United Kingdom's rules stack up against other jurisdictions, see our AML laws by country reference.
capital gains tax (10% or 20%) on gains above £3,000 (2024-25 allowance); income tax if trading
If your Bybit account is frozen, you may still need to declare your crypto holdings on your United Kingdom tax return — even if you can't access them. Under United Kingdom law, the tax obligation may apply regardless of whether the funds are accessible. We recommend consulting a British tax advisor.
If the freeze causes you to miss a tax deadline, we can provide documentation for the Financial Conduct Authority (FCA) and tax authority explaining the situation.
A British user with a common Middle Eastern name had their Bybit account frozen after a sanctions screening match. Bybit's compliance tool (Chainalysis) flagged the name against OFAC lists. We prepared a non-association declaration and cross-referenced with Financial Conduct Authority (FCA)'s sanctions guidance. The account was restored after we provided a legal submission citing Financial Conduct Authority (FCA)'s guidelines and the client's transaction history.
Details anonymized to protect client confidentiality. Swiss professional secrecy applies.
We analyze your Bybit account, transaction history, and United Kingdom regulatory context to identify the exact trigger. Was it a Chainalysis risk flag? A sanctions screening match? A source-of-funds demand? Each requires a different strategy.
We prepare documentation compliant with Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 — not just Bybit's standard templates. This includes source-of-funds proof, transaction tracing, and any required Financial Conduct Authority-specific forms.
We submit through Bybit's compliance channels — not standard support. Our submission is in English and references Financial Conduct Authority guidelines. We coordinate with Financial Conduct Authority even though Bybit is not registered.
We verify everything works and advise on preventing recurrence on Bybit. If Bybit doesn't respond within no statutory maximum, but FCA expects firms to resolve AML investigations within 30 days, we escalate to Financial Conduct Authority and pursue cross-jurisdictional action in Dubai, UAE (formerly British Virgin Islands) if needed.
Tell us what happened. A senior crypto compliance lawyer — not a chatbot, not a junior — will read your case and respond within 6 hours. Swiss professional secrecy applies from your first message.