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flag Indian government fines Bybit $1.2 million for unregistered crypto services, blocking its websites.

flag The Indian government has fined Bybit Fintech Limited ₹9.27 crore (about $1.2 million) for failing to register with the Financial Intelligence Unit-India (FIU-IND) while expanding its cryptocurrency services in India. flag This violation of the Prevention of Money Laundering Act (PMLA) led to the blocking of Bybit's websites. flag The Indian government requires all virtual digital asset service providers to report suspicious transactions and register with the FIU-IND.

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