Bybit Temporarily Suspends Crypto Services in India Due to Regulations
- Bybit, a Dubai-based crypto exchange, will halt services for Indian users from Sunday.
- The suspension is due to regulatory requirements in India.
- Withdrawals will remain available for Indian users during this period.
- Bybit aims to register as a Virtual Digital Asset Service Provider under Indian law soon.
- India requires crypto companies to register with the Financial Intelligence Unit (FIU) as of March 2023.
Bybit announced it will temporarily stop services in India due to regulatory compliance needs, but users can still withdraw funds. The company plans to resume full operations after completing registration with the FIU.
