Bybit Resumes Trading in India
Bybit has officially resumed its trading services in India after successfully registering with the country’s Financial Intelligence Unit (FIU-IND). Announced on February 25, the exchange is granting full access to existing users and gradually welcoming new clients.
This milestone represents a significant regulatory achievement for Bybit, which had previously suspended its operations in India due to compliance issues.
The initial suspension followed a fine of 9.27 crore rupees (about $1.06 million) levied on January 31 for violating India’s Prevention of Money Laundering Act (PMLA). Authorities had discovered that Bybit expanded its services without acquiring the necessary registration, leading to regulatory sanctions and the blocking of its website under the Information Technology Act.
After paying the fine and achieving successful registration with the FIU, Bybit has reaffirmed its commitment to adhering to India’s evolving cryptocurrency regulations.
