On February 5, Bybit introduced that it has efficiently registered with India’s Monetary Intelligence Unit (FIU) following previous regulatory points.
As a part of the registration course of, Bybit has settled a high quality, successfully closing the chapter on its prior regulatory troubles. The change emphasised its ongoing collaboration with FIU-IND to resolve points and guarantee full adherence to the Prevention of Cash Laundering Act (PMLA) and other relevant regulations.
Bybit has additionally utilized for a Digital Digital Asset Service Supplier (VDASP) license in India, submitting its software in June 2024.
Nonetheless, regardless of the non permanent setback, Vikas Gupta, Bybit’s nation supervisor for India, expressed optimism, stating that the corporate expects to finalize its full operations license within the coming weeks.
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