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The Monetary Authority of Singapore added Bybit Fintech Limited to its Investor Alert List on June 17, placing one of the world’s largest crypto exchanges alongside previously flagged platforms like Binance and KuCoin.
The designation doesn’t ban Bybit from operating. But it does something arguably more damaging: it tells Singaporean investors, in official government language, that this exchange may be falsely presenting itself as licensed or regulated by MAS.
What the Investor Alert List actually means
The MAS Investor Alert List is a public warning that an entity might be giving investors the wrong impression about its regulatory standing in Singapore. MAS has established the list to highlight entities that are not regulated but could be seen as licensed entities, particularly under the Payment Services Act.
The list has become a familiar landing spot for major crypto exchanges operating in the region. KuCoin was added on February 11, 2026. Binance has been on the list since September 2021. Now Bybit joins that increasingly crowded company.
A tale of two regulators
The timing makes this particularly interesting. Just weeks before Singapore’s addition, Bybit had scored a regulatory win in neighboring Malaysia. The exchange was removed from the Malaysia Securities Commission’s Investor Alert List in late April 2026 after what were described as compliance discussions.
So within the span of roughly two months, Bybit got crossed off one Southeast Asian watchlist and added to another. Singapore has positioned itself as one of the strictest jurisdictions in Asia when it comes to digital asset oversight. MAS has been methodical about licensing crypto platforms under its Payment Services Act. Malaysia, while also maintaining active regulatory oversight, operates under a different framework with different thresholds.
What this means for investors
For Singaporean users specifically, the MAS listing serves as a formal caution. It doesn’t prevent anyone from using Bybit, but it removes any ambiguity about the exchange’s regulatory status in the city-state.
Bybit’s removal from Malaysia’s list shows these designations aren’t necessarily permanent. Exchanges can and do work with regulators to resolve their status. Whether Bybit pursues formal licensing in Singapore or accepts the listing as the cost of operating without local authorization remains an open question, but the exchange’s recent compliance work in Malaysia suggests the appetite for regulatory engagement exists.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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