Bybit has registered with the Indian Financial Intelligence Unit (FIU) and expects to receive an operating license in the coming weeks after paying a fine of $1.06 million 💥

Bybit has registered with the Financial Intelligence Unit of India (FIU), which allows the company to move towards obtaining a full operating license in the coming weeks. This became possible after resolving issues related to compliance with local regulations, including a fine of $1.06 million for violations of the Prevention of Money Laundering Act (PMLA) of 2005. The company has also applied for a VDASP license, which will allow it to operate fully on the Indian crypto market.