PANews reported on February 6 that according to Bybit’s official announcement, the exchange has successfully completed registration with the Indian Financial Intelligence Unit (FIU-IND), properly paid the fine, resolved previous regulatory issues, and demonstrated its commitment to operating in compliance with regulations in the Indian market.

Bybit is committed to strictly comply with the Prevention of Money Laundering Act (PMLA) and related regulations, and has submitted an application for registration as an Indian Virtual Digital Asset Service Provider (VDASP) on June 26, 2024. In addition, Bybit actively participates in the Indian crypto community and is a silver member of the Bharat Web3 Association (BWA). Through its non-profit organization Blockchain for Good Alliance (BGA), Bybit cooperates with universities such as the Indian Institute of Technology to promote blockchain education, and plans to hold hackathons, workshops and other activities. Bybit said it will continue to expand services such as spot, derivatives, options and Bybit Earn to provide the best trading experience for Indian users.