Crypto Exchange Bybit completed registration in India’s Intelligence Unit (FIU-IND) Then agree to pay A 92.7 million-rupee ($ 1 million) fine for operation in the country without permission.
Dubai -based company said in January it temporarily stop its services to Indian users as it pursues the process of regulation.
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“As part of this process, Bybit organized the fine and diligently addressed and resolved the previous regulation objects,” The company said on Thursday. “We are diligently working on FIU-IND to meet their concerns and ensure full compliance with the prevention of the Money Laundering Act (” PMLA “) and relevant regulations.”
In March 2023, India has ordered that crypto companies need to register with FIUholding onto anti-money laundering items.
