PANews reported on February 6 that according to Bitcoin.com, the crypto trading platform Bybit was fined approximately 927 million rupees (approximately 1.06 million U.S. dollars) by Indian regulators for violating the Anti-Money Laundering Act, and its website was blocked. Bybit did not complete the mandatory registration when expanding its market in India, resulting in an unclear compliance status. Official documents show that Bybit, as a virtual digital asset service provider (VDA SP), was identified as a "reporting entity" under Section 2(1)(WA) of the PMLA, but continued to expand its business in the Indian market without obtaining mandatory registration from FIU-IND. Therefore, FIU-IND instructed the Indian Ministry of Electronics and Information Technology (MEITY) to block its website in accordance with the Information Technology Act to prevent its operations.

Previously, Bybit suspended its business in India due to regulatory pressure and submitted a VDA SP registration application on June 26, 2024. Vikas Gupta, Bybit's India country manager, said that it expects to obtain a full operating license in the coming weeks. Cointelegraph reported that Bybit had successfully registered and paid the fine, but a Bybit spokesperson later withdrew this information. At present, the FIU has not yet clarified Bybit's fine payment and registration status.