Bybit Secures FIU Registration After Regulatory Compliance
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 advantageous, 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 utility in June 2024.
Nevertheless, regardless of the short-term 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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