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DUBAI, UAE, Feb. 6, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency alternate by buying and selling quantity, has efficiently registered with FIU-IND, reinforcing its dedication to regulatory compliance in India. As a part of this course of, Bybit has settled the financial high quality and diligently addressed and resolved prior regulatory issues, additional demonstrating its dedication to transparency and the very best requirements within the Indian market.
Bybit is dedicated to working throughout the regulatory framework of India and takes its compliance obligations severely. We now have been working diligently with the FIU-IND to handle their issues and guarantee full adherence to the Prevention of Cash Laundering Act (“PMLA”) and related rules. We acknowledge the significance of strong Anti-Cash Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) measures and are devoted to upholding the very best requirements in these areas.
We imagine that our engagement and cooperation all through the FIU-IND registration course of demonstrates our dedication to compliance. We now have been actively working to meet all mandatory necessities for compliance, together with its registration software on 26 June 2024 as a Digital Digital Asset Service Supplier (“VDASP”) in India.
Bybit can also be proactively concerned within the Indian crypto group to coach customers and unfold consciousness. Bybit is at the moment a Silver Affiliate Member with the Bharat Web3 Affiliation (“BWA”) . By way of this partnership, we hope to make use of our platform to advertise Web3 adoption and foster innovation within the Indian crypto ecosystem.
Bybit’s not-for-profit initiative Blockchain for Good Alliance (“BGA”) has partnered with blockchain societies of high universities like Blockchain Society of IIT Delhi and Blockchain Society of IIT Kharagpur to drive crypto training in India. Bybit will even be conducting a sequence of hackathons, workshops, and different occasions in partnership with high universities to foster crypto and blockchain training and consciousness throughout the Indian market within the coming months.
Bybit acknowledges the good potential of the Indian market, and is dedicated to providing the perfect companies and merchandise to all Indian customers, together with Spot, Derivatives, Choices, Bybit Earn, and extra.
About Bybit
Bybit is the world’s second-largest cryptocurrency alternate by buying and selling quantity, serving a worldwide group of over 60 million customers. Based in 2018, Bybit is redefining openness within the decentralized world by creating an easier, open and equal ecosystem for everybody. With a powerful give attention to Web3, Bybit companions strategically with main blockchain protocols to offer sturdy infrastructure and drive on-chain innovation. Famend for its safe custody, numerous marketplaces, intuitive consumer expertise, and superior blockchain instruments, Bybit bridges the hole between TradFi and DeFi, empowering builders, creators, and fanatics to unlock the complete potential of Web3. Uncover the way forward for decentralized finance at Bybit.com.
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