Crypto exchange Bybit has successfully registered with India's Financial Intelligence Unit (FIU-IND) after paying a fine of approximately $1 million. The fine was imposed due to Bybit's lack of regulatory compliance while operating in India. The Dubai-based company had announced in January that it would temporarily suspend its services to Indian users. Following the settlement of the monetary fine, Bybit stated it worked closely with FIU-IND to address their concerns related to the Prevention of Money Laundering Act (PMLA) and to ensure compliance with associated regulations. Bybit aims to fully adhere to the legal requirements and restore its operational standing in the Indian market after resolving these past regulatory issues.
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