Bybit, a Dubai-based cryptocurrency exchange, has announced the temporary suspension of its services for Indian users, effective Sunday after recent regulatory changes in the country.

Indian users will no longer be able to access trading services, including crypto and fiat trading, copy trading, trading bots, and P2P advertisements.

While deposits will be halted, users can still withdraw funds. Derivatives trading will shift to close-only mode, and copy trading along with bots will terminate by Monday.

The suspension comes as the platform seeks to register as a Virtual Digital Asset (VDA) service provider with India’s Financial Intelligence Unit (FIU).

Registration is essential to comply with the Prevention of Money Laundering Act (PMLA) and VDA regulations.

The company assured users the measures are temporary, expressing its commitment to resuming full operations after completing the registration process.