Bybit platform enters the Indian market after receiving a regulator license

BYBIT’s largest crypto-rope has officially registered in FIU-end, confirming its desire to work in accordance with Indian legislation. This is an important step for a company that will allow it to expand the presence in the country and provide users with access to their products and services.

As part of the registration, Bybit settled all previously arising questions with supervisory authorities and paid the required fine. Representatives of the company said that they strictly comply with the norms of the law on preventing money laundering (PMLA) and other related requirements. The site management also confirmed the readiness to carry out measures to combat money laundering (AML) and the financing of terrorism (CFT).

Bybit applied for registration in India on June 26, 2024 as a supplier of virtual digital assets (VDASP). Now the company plans to more actively develop crypto industry in the country, participating in educational and public initiatives.

The exchange is already a silver participant in Bharat Web3 Association (BWA) and seeks to promote Web3 technologies in India. BYBIT also supports educational initiatives and collaborates with leading universities such as IIT Delhi and Iit Kharagpur, helping students study blockchain and cryptocurrencies.

In the coming months, Bybit organizes hackathons, workshops and other events aimed at developing crypto formation in India. The company sees the huge potential of the Indian market and intends to offer local users a wide range of services, including trading of spot and derivative assets, options and loyalty programs.

This step strengthens the BYBIT position on the world crypto and makes it one of the few leading exchanges working in strict accordance with Indian regulatory standards.

Author

Peter Ivanov