Temporary Suspension of Bybit Operations in India

Bybit exchange has announced that it will temporarily suspend its operations in India, starting from 8 AM UTC on January 12, 2025.

Bybit has always prioritized operating in full compliance with all applicable rules and regulations. However, due to recent regulatory changes in India and ongoing restrictions, Indian users will not be able to open new trades or access other products on the Bybit platform. The only exception to this will be withdrawals, which will still be available for users.

It is important to note that Indian users will be unable to open new trades or access any products, whether they are in crypto or fiat, on the Bybit platform. However, existing derivatives positions will be placed in Close-Only mode, meaning users will not be able to add to or modify their positions, but they can still manage closing them. Deposits in both crypto and fiat will also be restricted, but withdrawals will not be affected.

Furthermore, other services will also be impacted. Copy trading and trading bots will be canceled or terminated before 5 AM UTC on January 13, 2025. This means that any master-follower relationships and trading bots will no longer function. All Indian Rupee (INR) peer-to-peer (P2P) ads will be removed starting from 8 AM UTC on January 12, 2025. Indian users will no longer be able to participate in any new or ongoing tasks for Bybit’s campaigns from that time onwards. Additionally, all Bybit Card transactions will be restricted.

Tags: Crypto news