ByBit registers with India’s FIU, signaling a return to operations for traders. Regulatory pressures lead to $1.06M fine for ByBit’s non-compliance in India. India tightens scrutiny, requiring offshore crypto exchanges to meet AML standards. Cryptocurrency exchange ByBit has made progress toward getting back to business in India after fixing compliance issues with the country’s financial authorities. On February 5, the exchange announced it had officially registered with India’s Financial Intelligence Unit (FIU) as a reporting entity. This move follows a temporary suspension of services in the country due to regulatory challenges. The exchange expects to receive a full operating license in the coming weeks, potentially signaling a return to normal operations for its Indian users. ByBit’s Path to Compliance To get in line with India’s legal framework, ByBit has agreed to comply with the Prevention of Money Laundering Act (PMLA) 2005. By registering as a reporting entity, the platform now meets the country’s anti-money laundering (AML) requirements. This shift is a significant step forward, as ByBit had previously suspended operations in Indi… The post ByBit Registers in India, Eyes Return After Paying $1M+ Fine appeared first on Coin Edition .
