Bybit has successfully completed registration with the Financial Intelligence Unit of India (FIU-IND), demonstrating a strong commitment to the Indian market.

By: blockbeats|2025/02/06 23:30:04

Source: Bybit

The world's second-largest cryptocurrency exchange, Bybit, has successfully registered with India's Financial Intelligence Unit (FIU-IND), further demonstrating its commitment to operating in India in compliance. As part of this process, Bybit has duly paid fines and actively addressed and resolved previous regulatory issues, showcasing its dedication to transparency and maintaining the highest standards in the Indian market.

Bybit takes its compliance obligations in the Indian market seriously, striving to adhere to local regulatory frameworks. We have continuously collaborated closely with India's Financial Intelligence Unit (FIU-IND) to understand relevant requirements and ensure full compliance with the Prevention of Money Laundering Act (PMLA) and its associated regulations. Bybit recognizes the importance of robust Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) measures and is committed to upholding the highest standards in these areas.

We believe that the communication and cooperation during the FIU-IND registration process demonstrate our commitment to compliance. We have consistently proactively met all necessary compliance requirements, including submitting our registration application as an Indian Virtual Digital Asset Service Provider ("VDASP") by June 26, 2024.

Bybit is also actively engaging with the Indian cryptocurrency community to educate users and raise awareness. Bybit is currently a Silver Member of the Bharat Web3 Association (BWA). Through this partnership, we aim to leverage our platform to promote Web3 adoption and drive innovation in the Indian crypto ecosystem.

Bybit's non-profit organization, the Blockchain for Good Alliance (BGA), is collaborating with blockchain communities at top Indian universities, such as the Indian Institutes of Technology in Delhi and Kharagpur, to advance local cryptocurrency education. Furthermore, Bybit will collaborate with leading Indian universities in the coming months to host a series of hackathons, workshops, and other activities to promote cryptocurrency and blockchain education and awareness in the Indian market.

The Indian market holds significant potential, and Bybit is committed to providing the best services and products to all Indian users, including spot, derivatives, options, Bybit Earn, and other diversified services.

About Bybit

As the world's second-largest cryptocurrency exchange by trading volume, Bybit serves over 60 million global users. Since its establishment in 2018, Bybit has been dedicated to creating a simpler, more open, and fairer ecosystem, redefining the openness of the decentralized world. We are deeply rooted in the Web3 space, establishing strategic alliances with top blockchain protocols, providing robust infrastructure, and driving on-chain innovation. With secure asset custody, diverse trading markets, an intuitive user experience, and cutting-edge blockchain tools, Bybit has successfully bridged the traditional finance and decentralized finance worlds, empowering developers, creators, and enthusiasts to fully unlock the limitless potential of Web3.

This article is contributed content and does not represent the views of BlockBeats

-- Price

The combination of AI and crypto is still in its early stages, with both serving as complementary "middleware": AI translates human intentions into executable programs, while cryptographic technology provides verifiable and tamper-proof guarantees for computational processes and results. In the dire...

Deconstructing Anthropic: The Best AI Company, Possibly Also a Type of Organizational Invention

Instead of competing with ambition, focusing on restraint, how does Anthropic leverage extreme strategic focus and an "counterintuitive" geek culture to counterattack OpenAI on the AI battlefield?

Every exchange is a "Universal Exchange."

You initially build infrastructure for something, then realize it can also be used for many other things, and then you continuously expand the business to accommodate everything that the infrastructure can support.

The counterattack of traditional finance: Alliance chains are quietly reviving

Whether public chains win or consortium chains win has never been the focus.

Pantera Capital Partner: How Tokenization is Restructuring the Private Equity and Early Investment Ecosystem?

Top tech companies are going public later and later, leaving retail investors shut out during the high growth period. Can tokenization give ordinary people back this entry ticket?

Mastercard Launches Agent Pay for AI, Plans to Record AI Agent Payment Authorizations on Polygon

Mastercard launched Agent Pay for AI, a new payment protocol designed to help AI agents make small payments such as pay-per-use access to data and APIs. The system plans to record human-granted AI agent permissions on Polygon, focusing on verifiable authorization, identity, and payment controls.

Curve Deploys Llamalend v2 on Optimism With 250,000 OP Incentives

Curve launched Llamalend v2 on Optimism with 250,000 OP incentives from the Optimism Foundation. The upgrade expands Llamalend beyond its earlier crvUSD-focused model, adding broader collateral support, LlamaRisk market reviews, and the ability to use Curve LP tokens as collateral.

Raydium Old Liquidity Pool Reportedly Exploited, With $1.34 Million Moved to Ethereum and Tornado Cash

An old Raydium liquidity pool was reportedly exploited for around $1.34 million in USDC, RAY, and wSOL, with the stolen funds bridged to Ethereum and deposited into Tornado Cash. The incident highlights the tail risks of legacy DeFi pools, old contracts, and cross-chain fund laundering paths.

Kalshi Executive Challenges “SBF Backed AI Unicorns” Narrative, Says Leopold Aschenbrenner Was Key Figure

Kalshi executive John Wang questioned the “SBF backed AI unicorns” narrative, saying Leopold Aschenbrenner was the key figure behind major AI investment decisions.

New York Proposes Stricter Stablecoin Issuer Rules Aligned With Federal GENIUS Act

NYDFS proposed stricter stablecoin issuer rules aligned with the GENIUS Act, covering reserves, custody, redemption timelines, audits, and capital buffers.

CryptoQuant Says Bitcoin Profitable Supply Is Near 45% Pressure Zone as On-Chain Data Points to Market Repricing

CryptoQuant said Bitcoin’s profitable supply is nearing the 45% pressure zone, signaling rising market stress, unrealized losses, and a possible on-chain repricing phase.

Bitcoin Falls Below 200-Week Moving Average as On-Chain Data Shows Over Half of Supply in Loss

Bitcoin dropped below its 200-week moving average as on-chain data showed over 50% of circulating supply is now in loss, signaling rising market stress.

CFTC Reportedly Plans New Prediction Market Rules Focused on Manipulation Risk and Public Interest Review

The CFTC is reportedly preparing new prediction market rules focused on manipulation risk, public interest review, and retail trader protections.

Meet the new WEEX trial fund—your gateway to greater profits

Discover WEEX's new trial fund and trade with less risk. Use them to offset transaction fees, funding fees, and trading losses. Kickoff your trading journey with WEEX!

WEEX Labs Lands at Dutch Blockchain Week: A Disruptive Crypto × AI Conversation Sets Sail in Amsterdam

WEEX Labs lands in Amsterdam for Dutch Blockchain Week with Agentic Day: The AI Infrastructure Economy — featuring a Cointelegraph exclusive interview with Waqar Zaka, a live AI trading competition (no code required, just natural language), and a keynote from WEEX COO Andrew Weiner. June 22. Register now: https://luma.com/lo977l6h

SK Hynix Reportedly Plans U.S. ADR Listing as Early as August, With SEC Approval Possible in Late June

SK Hynix may pursue a U.S. ADR listing as early as August, with SEC approval reportedly possible in late June amid strong AI chip supply chain demand.

Morning Report | OpenAI has submitted an S-1 registration statement draft to the U.S. SEC; Morpho completes $175 million financing

Overview of Important Market Events on June 9th

Galaxy Deep Research Report: How Hyperliquid's HIP-4 Upgrade Changes the Landscape of Prediction Markets?

The platform that wins this competition will be the one whose execution layer is the hardest to replicate, whose builder ecosystem delivers the fastest, and whose regulatory path is the most open.

Latest research from 13 top universities including Cornell University: The current state, challenges, and misconceptions of the fusion of Crypto and AI