Key Takeaways
- Bybit resumes services in India after registering with FIU-IND.
- The exchange was among nearly a dozen platforms banned in January.
- Binance, KuCoin, and Coinbase have already secured regulatory approval.
After nearly nine months on the sidelines, Bybit, the world’s second-largest crypto exchange by trading volume, is reopening its doors to Indian users.
Bybit’s return comes after the platform secured regulatory approval from India’s Financial Intelligence Unit (FIU-IND), ending a suspension that had barred unregistered offshore exchanges earlier this year.
Ban and Compliance Push
In January, India banned foreign crypto exchanges that lacked FIU registration, cutting off services such as deposits, trading, and access to products like copy trading and bots.
Bybit was one of the platforms forced to exit. The FIU framed the crackdown as a step to bring transparency and oversight to the country’s fast-growing digital asset market.
Bybit formally registered with FIU-IND as a reporting entity in early 2025, enabling it to reapply for market access. By late February, limited functionality had quietly returned for existing users.
Full access to Bybit’s mobile app via the App Store and Google Play was restored this week following months of coordination on stricter Know Your Customer (KYC) standards and security protocols.
Exchange Leaders Welcome Return
Bybit co-founder and CEO Ben Zhou said the company is treating its re-entry as a reset rather than a simple resumption:
“India is among the most promising digital asset markets globally. We are excited to resume regular business and reaffirm our devotion to delivering Indian users a secure, transparent, and world-class cryptocurrency experience. It’s not a comeback—it’s a new chapter for Bybit in India.”
Bybit joins a wave of major players that have reestablished themselves in India after the January crackdown.
Binance, KuCoin, and Coinbase have also secured FIU approval, underscoring the market’s importance to global exchanges.
India’s Complicated Crypto Landscape
India’s crypto ecosystem continues to grow despite regulatory headwinds.
With a population of 1.4 billion, even a sliver of adoption translates into tens of millions of potential users, making it an irresistible market for exchanges.
Yet the landscape remains challenging. India imposes a 30% tax on crypto gains and has yet to introduce a comprehensive regulatory framework, despite repeated pledges to do so.
Still, demand remains resilient. India has topped Chainalysis’s Global Crypto Adoption Index for three consecutive years, driven by grassroots retail participation rather than government support.
Bybit’s return highlights the balancing act facing both regulators and exchanges: ensuring compliance without stifling one of the most dynamic markets in global crypto.
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Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
