Bybit, Bitget, and OKX, three of the largest cryptocurrency exchanges, do not allow traders from the U.S. due to lack of licensing. However, in August, these exchanges collectively boasted nearly a million monthly active users (MAUs) in the U.S., as per research conducted by Sensor Tower and shared with CoinDesk.
This restriction for U.S. traders is a result of regulatory compliance issues and licensing requirements. Despite this, the demand for cryptocurrency trading remains high in the U.S., leading many American users to seek alternative platforms or use VPNs to access these prohibited exchanges.
Bybit, Bitget, and OKX are popular choices for traders globally, offering a wide range of cryptocurrencies and trading pairs. The ban on U.S. users has not deterred the exchanges’ popularity, with users finding ways to access these platforms despite the restrictions.
As the cryptocurrency market continues to grow and evolve, regulatory challenges like these highlight the ongoing need for clear guidelines and licensing frameworks to support the industry’s development while protecting users.
