Bybit Fintech Limited has reportedly paid an INR 9.27 crore penalty and is registered with FIU-IND (Financial Intelligence Unit-India). The crypto trading platform was slapped with hefty fees over PMLA (Prevention of Money Laundering Act, 2002). FIU-IND imposed INR 9,27,00,000 on Bybit, saying it violated the act and had persistent and continuous non-compliance. This led the Indian government department to block its website and stop the operations under IT Act 200. According to a report by Cryptonomist, "After a period of uncertainty, the platform has officially registered its activity with the regulatory body," FIU-IND Slaps INR 9.27 Crore Penalty on Crypto Platform Bybit Fintech Limited Over Violations of Prevention of Money Laundering Act, 2002.

Bybit Crypto Trading Platform Registered With FIU-IN, Paid INR 9.27 Crore Penalty

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