The suspension of trading and access to cryptocurrency platform products for users in India was a consequence of recent changes in the country’s regulatory framework.
From January 12, 2025, 8:00 am UTC, Indian users will not be able to open new trades or access products owned by Bybit.
The exchange team clarified that the restrictions will affect all exchange positions of users – they will be transferred to the “close only” status. Withdrawal of funds from the site will be made without restrictions.
Bybit is expected to resume services to users in India after successfully completing registration procedures with the Financial Intelligence Unit of India (FIU).
Earlier, the largest cryptocurrency exchange Binance and the Hong Kong platform KuCoin announced that they were returning to the Indian market after undergoing a similar registration with the FIU.
Source: Bits
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