Bybit Compliance Update: Reaffirmation of Monitoring and Restriction on Non-compliant Affiliate Marketing Activities in Korea

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, continually reviews and enhances its global compliance framework to align with applicable local legal and regulatory requirements. As part of this framework, Bybit maintains a policy of only marketing, promoting, or directing its services toward jurisdictions where it meets  local regulatory requirements. 

In this context, Bybit notes recent public advisories issued by regulatory authorities in certain jurisdictions, including Korea, highlighting risks associated with illegal virtual asset operators and unreported marketing or brokerage activities directed at domestic users.

Particularly with respect to Korea, and in support of enhanced compliance, Bybit is implementing additional measures to prevent affiliates from using referral or commission arrangements to specifically target the Korean market or Korean users. Bybit will actively monitor and manage affiliate activities in this regard, and where it becomes aware of such conduct, it will take appropriate action in accordance with its internal policies and the terms of its affiliate program. Such action may include, without limitation, suspending or terminating the affiliate relationship and/or restricting and removing commission rewards, in whole or in part.

These measures apply to all affiliates and partners engaging in promotional or marketing activities that are specifically directed at the subjected market or user base, whether through social media, messaging platforms, websites, or other channels. Affiliates and partners are encouraged to review the applicable terms and conditions of the Bybit Affiliate Partnership Program for further details.

Any promotion of Bybit that is suspected of targeting Korean users - including promotion in the Korean language - may be reported to Bybit at https://www.bybit.com/en/help-center/s/webform?state=020

Bybit will continue to appropriately monitor regulatory developments and take appropriate steps to promote responsible industry standards and mitigate risks associated with illegal virtual asset activities.