EddieJayonCrypto
7 Feb 25
Bybit, the second-largest crypto exchange in terms of daily trading volume, is resuming operations in India after registering in accordance with local regulations and paying a $1 million fine. This comes after the exchange temporarily left in January, citing changing licensing requirements. Bybit ai...
Bybit, the second-largest crypto exchange in terms of daily trading volume, has resumed operations in India. After complying with local regulations and paying a $1 million fine, Bybit is showing its commitment to regulatory compliance in India. This move comes amidst changing attitudes towards crypto in India, with Bybit aiming to contribute to the country's growing crypto market through partnerships with local blockchain societies and associations.
Bybit's return to India follows a temporary departure in January due to evolving licensing requirements. The exchange's CEO shared these developments on social media, emphasizing Bybit's dedication to regulatory adherence. Despite facing regulatory challenges in various countries, Bybit's focus on India signifies its determination to operate within the country's regulatory framework and engage with its crypto community.
This decision reflects a broader trend, as India's stance on crypto appears to be shifting. Recent advocacy for liberalizing crypto laws in India may have influenced Bybit's return, prompting the exchange to align with local blockchain entities and associations. Furthermore, Bybit's decisive actions coincide with India's evolving regulatory landscape, signaling its readiness to navigate the dynamic market conditions.