On the fifth day of February, in a year that was neither particularly remarkable nor utterly forgettable, Bybit, the cryptocurrency exchange that seems to have more lives than a particularly resilient cat, triumphantly announced its registration with India’s Financial Intelligence Unit (FIU). This was, of course, after a series of regulatory hiccups that could make even the most seasoned bureaucrat raise an eyebrow and mutter something about paperwork. 🧐
As part of this grand registration spectacle, Bybit decided to settle a fine, which was rather like paying for a ticket to a show you didn’t want to see but felt obliged to attend. With this fine settled, they’ve effectively closed the chapter on their previous regulatory escapades, which were as thrilling as a soap opera but with slightly less dramatic music. 🎭
In a move that can only be described as both ambitious and slightly optimistic, Bybit has also thrown its hat into the ring for a Virtual Digital Asset Service Provider (VDASP) license in India, having submitted its application in June 2024. Yes, you read that right—2024. Apparently, they believe in planning ahead, or perhaps they just enjoy the suspense. ⏳
Despite these minor setbacks, Vikas Gupta, Bybit’s country manager for India, expressed a level of optimism that could rival a puppy seeing its owner return home after a long day. He confidently stated that the company expects to finalize its full operations license in the coming weeks, which is a bit like saying you expect to find a parking spot in a crowded city—possible, but not without a few prayers and perhaps some sacrifices to the parking gods. 🙏
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2025-02-05 13:41