UK invites crypto exchange Bybit to London

The United Kingdom is actively seeking to attract major cryptocurrency firms like Bybit, inviting its leadership to London for discussions. This initiative aims to counter the growing influence of hubs like Dubai, which have successfully drawn in crypto businesses and fostered innovation. Bybit's CEO met with U.K. government-linked bodies, including the Financial Conduct Authority and the House of Lords, to explore potential pro-crypto regulations and the establishment of a U.K. base. The move aligns with the U.K.'s broader strategy to revamp its payment systems using stablecoins and tokenization, hoping to replicate the momentum seen in the UAE.