Bybit Registers with FIU-IND and Commits to the Indian Markets

February 7, 2025

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Bybit Registers with FIU-IND and Commits to the Indian Markets

DUBAI, UAE, Feb. 6, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency change by buying and selling quantity, has efficiently registered with FIU-IND, reinforcing its dedication to regulatory compliance in India. As a part of this course of, Bybit has settled the financial nice and diligently addressed and resolved prior regulatory issues, additional demonstrating its dedication to transparency and the very best requirements within the Indian market.

Bybit is dedicated to working throughout the regulatory framework of India and takes its compliance obligations significantly. Now we have been working diligently with the FIU-IND to handle their issues and guarantee full adherence to the Prevention of Cash Laundering Act (“PMLA”) and related rules. We acknowledge the significance of strong Anti-Cash Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) measures and are devoted to upholding the very best requirements in these areas.

We consider that our engagement and cooperation all through the FIU-IND registration course of demonstrates our dedication to compliance. Now we have been actively working to satisfy all vital necessities for compliance, together with its registration utility on 26 June 2024 as a Digital Digital Asset Service Supplier (“VDASP”) in India.

Bybit can also be proactively concerned within the Indian crypto neighborhood to coach customers and unfold consciousness. Bybit is at present a Silver Affiliate Member with the Bharat Web3 Affiliation (“BWA”) . By means of this partnership, we hope to make use of our platform to advertise Web3 adoption and foster innovation within the Indian crypto ecosystem.

Bybit’s not-for-profit initiative Blockchain for Good Alliance (“BGA”) has partnered with blockchain societies of prime universities like Blockchain Society of IIT Delhi and Blockchain Society of IIT Kharagpur to drive crypto training in India. Bybit will even be conducting a collection of hackathons, workshops, and different occasions in partnership with prime universities to foster crypto and blockchain training and consciousness throughout the Indian market within the coming months.

Bybit acknowledges the nice potential of the Indian market, and is dedicated to providing the most effective providers and merchandise to all Indian customers, together with Spot, Derivatives, Choices, Bybit Earn, and extra.

About Bybit

Bybit is the world’s second-largest cryptocurrency change by buying and selling quantity, serving a world neighborhood of over 60 million customers. Based in 2018, Bybit is redefining openness within the decentralized world by creating an easier, open and equal ecosystem for everybody. With a powerful give attention to Web3, Bybit companions strategically with main blockchain protocols to offer strong infrastructure and drive on-chain innovation. Famend for its safe custody, various marketplaces, intuitive person expertise, and superior blockchain instruments, Bybit bridges the hole between TradFi and DeFi, empowering builders, creators, and fanatics to unlock the total potential of Web3. Uncover the way forward for decentralized finance at Bybit.com.

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