Bybit's Blockchain Initiative Bolsters Compliance and Education in India

Bybit, a major cryptocurrency exchange, secures its registration with FIU-IND, emphasizing regulatory adherence in India. The firm addresses AML and CFT measures, enhances crypto education through partnerships, and drives Web3 innovation. As a Silver Associate Member with the Bharat Web3 Association, Bybit advances blockchain awareness and compliance efforts.

Bybit, the second-largest cryptocurrency exchange globally by trading volume, has achieved a crucial milestone by registering with FIU-IND, affirming its regulatory compliance in India. This achievement highlights Bybit's unwavering commitment to transparency and adherence to the highest standards within the Indian market. In line with this, Bybit has resolved prior regulatory concerns and settled the necessary monetary fine.

Dedicated to operating within India's regulatory framework, Bybit has been cooperative with FIU-IND to ensure full compliance with the Prevention of Money Laundering Act (PMLA) and associated regulations. The company takes its compliance obligations seriously, recognizing the importance of implementing robust Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) measures.

In addition to compliance efforts, Bybit is proactively engaging with India's crypto community to educate and raise awareness. As a Silver Associate Member of the Bharat Web3 Association (BWA), Bybit is leveraging its platform to promote Web3 adoption and innovation. Through collaborations with university blockchain societies and forthcoming educational events, Bybit aims to strengthen blockchain education across India.

(With inputs from agencies.)