Bybit, one of the world’s largest crypto exchange operators, expects to pull out of the United Kingdom ahead of new marketing rules that are set to go live in the coming weeks

“We do see regulation becoming more strict. Most likely, we’ll have to retreat in many countries. I think the UK — we’ll have to exit very soon. We recently exited France,” Ben Zhou, co-founder and CEO of Bybit, explained.

The Financial Conduct Authority will, on Oct. 8, enforce new rules — which include a cooling-off period for first-time investors — that it hopes will make the marketing of crypto products more transparent and more accurate.

Zhou said the new rules will change the way solicitation works. Although crypto derivative products have been banned in the UK since 2021, some exchanges have nonetheless …