Bybit Completes Registration with India’s FIU After Paying $1 Million Fine

Bybit, a crypto exchange, registered with India's Financial Intelligence Unit (FIU-IND) after paying a fine of 92.7 million rupees ($1 million) for unauthorized operations in the country.

The company paused services to Indian users in January to pursue regulatory compliance.
Bybit settled the fine and resolved prior regulatory issues.
The firm committed to adhering to the Prevention of Money Laundering Act (PMLA).
In March 2023, India required crypto companies to register with the FIU for anti-money laundering compliance.