Crypto Exchange Bybit completed registration with India’s Financial Intelligence Unit (FIU-IND) after agreeing to pay a fine of $ 92.7 million ($ 1 million) to operate in the country without permission.
The Dubai-based company said in January that it would temporarily stop its services to Indian users while it pursued the regulation process.
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“As part of this process, Bybit has decided the monetary fine and diligently addressed and resolved prior regulatory affairs,” the company said on Thursday. “We have worked extensively with FIU-IND to tackle their concerns and ensure full compliance with the law on the prevention of money laundering (” PMLA “) and related rules.”
In March 2023, India ordered that cryptic companies should register with FIU, which tackles anti-white laundering.
