Cryptocurrency exchange Bybit
$7.66B
Starting January 12 at 8:00 AM UTC, users in India will no longer be able to open new accounts, trade cryptocurrencies, or place new orders on the platform.
The exchange explained that the decision aligns with its commitment to comply fully with applicable laws.
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In a statement released on January 10, Bybit acknowledged the increasing regulatory oversight in India. The statement noted:
Due to recent developments from Indian regulators and in continuation of previously implemented restrictions, <…> Indian users will temporarily be unable to open new trades or access any products on the Bybit platform.
However, Bybit clarified that users could still withdraw their funds without restrictions.
For Indian users, while new orders are restricted, the platform allows the management of existing trading positions. However, modifications or additions to these positions are not permitted.
Bybit stated, “Any existing derivatives position will be placed in Close-Only mode. This means you will not be able to add to or modify these positions, but you can still manage closing positions”.
Meanwhile, on January 8, Coinbase
$3.09B
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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