Bybit suspends services in India

The cryptocurrency exchange Bybit warned of temporary restrictions for users in India. They take effect on 12 January.

According to the notice, clients will be unable to open accounts, trade cryptocurrencies or use other products. The firm said the move reflects its desire to operate “in full compliance with all applicable rules and regulations”.

“In connection with recent developments on the part of Indian regulatory authorities and as a continuation of previously introduced restrictions […], Indian users will temporarily be unable to open new trades or access any products on the platform,” the notice says.

Withdrawals are unaffected. Bybit said it plans to complete registration as a virtual-asset service provider in India.

Earlier, the Securities Commission Malaysia accused the bitcoin exchange of lacking a licence and ordered it to halt all operations by 25 December 2024.

In August, Bybit said it would cease operations in France. The decision followed tighter licensing requirements by regulators ahead of MiCA taking effect.