Cryptocurrency exchange Bybit announced on Thursday that it has completed registration with the Financial Intelligence Unit-India (FIU-IND) after agreeing to pay a fine of 92.7 million rupees (approximately 1 million USD).
According to an announcement made by FIU-IND at the end of January, Bybit was fined for expanding its business in the Indian market without authorization, in violation of the country’s anti-money laundering regulations. The exchange, headquartered in Dubai, had previously stated in January that it would suspend services for Indian users during the regulatory process.