Is Bybit legal in India? FIU-IND order, January 2025 pause and tax (October 2026)
Short answer
Bybit’s own press release says it became registered with FIU-IND as a reporting entity in January 2025, and an FIU-IND order of 31 January 2025 fined Bybit Fintech Limited Rs. 9.27 crore. India is not on Bybit’s list of Excluded Jurisdictions. We checked these on 16 October 2026. FIU-IND supervision is anti-money-laundering supervision. It is not an RBI licence, it does not protect your funds, and it does not make a trade tax-free. This page shows no sign-up button; the decision about a button for the Bybit and India pair is a separate step.
Timeline: FIU penalty, January 2025 pause and return
| Date | Event | Source |
|---|---|---|
| 7 May 2024 | FIU-IND show-cause notice to Bybit Fintech Limited | FIU-IND order (PDF) |
| 12 January 2025 | Bybit stops new trades, deposits and INR P2P listings for Indian users; withdrawals keep working | Inc42, 10 Jan 2025 |
| 31 January 2025 | FIU-IND order No. 15/DIR/FIU-IND/2024, penalty Rs. 9.27 crore | FIU-IND order (PDF) |
| January 2025 (day not stated; sequence versus the FIU order unknown) | Bybit says it became registered with FIU-IND as a reporting entity | Bybit press release |
| 25 February 2025 | Bybit says operations were re-established for authorized users, with all trading functionality | Bybit press release |
| 8 September 2025 | Bybit says full app access for Indian users is restored | Bybit press release |
The Inc42 article is a news report of the pause, and the press release is Bybit’s own statement; we present both as such. The order does not state a registration date, so “January 2025” is Bybit’s claim, not an FIU-IND record.
What the FIU-IND order says
The order imposes a penalty of Rs. 9,27,00,000 on Bybit Fintech Limited. It describes Bybit as a VDA service provider and a Reporting Entity, and it cites violations of Sections 12(1) and 13 of the PMLA. We read the order on the FIU-IND website and do not paraphrase its findings beyond this, because we would rather link the primary document.
How to create a Bybit account in India
Bybit’s official India guide of 11 December 2025 says you choose India as your country of residence and complete KYC by verifying an identity document and then completing a separate PAN verification; Bybit’s pages differ on which identity documents they accept, so check its current KYC page before you start; without verification, deposits, withdrawals and trading are limited. Our referral code is CCHUB, and it only matters if the registration form or link applies it, so check on the confirmation screen that it was applied. If it was not, do not create a second account to try again. We show no bonus amount, because we found no official source for one in India. Use only Bybit’s own site or the official store listing, and verify with your own documents.
Funding your account
The official guide lists direct fiat deposits for selected currencies, One-Click Buy and P2P, plus crypto deposits. It does not name INR as a deposit currency, so we make no claim about INR methods, limits, fees or processing times.
What you can trade
According to Bybit’s press release, operations with all trading functionality (including Spot, Derivatives, Options and Copy Trading) were re-established for authorized users on 25 February 2025, and full app access followed on 8 September 2025. We did not check live availability of each product for your account.
Crypto tax in India: 30% plus surcharge and cess, and 1% TDS
The Income Tax Department guide states that income from the transfer of a virtual digital asset is taxed at 30% (plus surcharge and cess) under section 115BBH of the Income-tax Act, 1961, with no deduction other than the cost of acquisition and no set-off of losses. A separate 1% TDS under section 194S applies to a payment for a VDA to a resident, with thresholds of Rs. 50,000 for certain individuals and HUFs and Rs. 10,000 for others. We have not verified from an official source which provisions apply to transfers after the guide’s date. This is not tax advice; ask a qualified adviser about your own case.
Where Bybit is not available
Bybit’s Excluded Jurisdictions list names the US, mainland China, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Crimea and Sevastopol, the uncontrolled areas of the Donetsk, Luhansk, Kherson and Zaporizhzhia regions, Sudan and Syria. Dubai is served only by Bybit VAPO LLC. India is not listed. The list was last updated on 16 October 2026 and changes over time, so read the live page on the day you register. Do not try to work around a restriction.
Related pages
For what we confirm about the referral program in general, see Bybit referral code. For how we check facts, see How we verify and the editorial policy.
What this page does not cover
We do not cover Bybit’s deposit or withdrawal limits for Indian users, P2P merchant rules, fees, or any bonus, because each needs an official source with a check date and we did not have one on 16 October 2026.
Facts and sources
| Fact | Source | Checked |
|---|---|---|
| FIU-IND order No. 15/DIR/FIU-IND/2024, dated 31 January 2025, in the matter of Bybit Fintech Limited imposes a penalty of Rs. 9,27,00,000 (about Rs. 9.27 crore). | FIU-IND: FIU-IND order No. 15/DIR/FIU-IND/2024 in the matter of Bybit Fintech Limited | |
| The order describes Bybit as a VDA service provider and a Reporting Entity and cites violations of Sections 12(1) and 13 of the PMLA, following a show-cause notice of 7 May 2024. It gives no registration date. | FIU-IND: FIU-IND order No. 15/DIR/FIU-IND/2024 in the matter of Bybit Fintech Limited | |
| According to Bybit, it became registered with FIU-IND as a reporting entity in January 2025, it re-established operations with all trading functionality for authorized users on 25 February 2025, and on 8 September 2025 it restored full app access, returning its app to the App Store and Google Play. | Bybit via DL News: Bybit resumes full access for Indian users (Bybit press release via PR Newswire, 8 September 2025) | |
| From 12 January 2025, 08:00 UTC, Bybit stopped new trades, deposits and INR P2P listings for Indian users; withdrawals kept working. | Inc42: Bybit suspends services in India (10 January 2025) | |
| The official guide says India is selected as country of residence, KYC means verifying an identity document plus a separate PAN verification, and without verification deposits, withdrawals and trading are limited. It lists direct fiat deposits for selected currencies, One-Click Buy and P2P, and does not name INR as a deposit currency. | Bybit: How to create a Bybit India account (11 December 2025) | |
| India is not on Bybit's list of Excluded Jurisdictions, last updated 2026-10-16 03:56:21. | Bybit: Service Restricted Countries (Bybit Help Center) | |
| Income from the transfer of virtual digital assets is taxed at 30% plus surcharge and cess (section 115BBH of the Income-tax Act, 1961, as cited in the Income Tax Department guide) without deduction of expenses other than the cost of acquisition, and losses cannot be set off. | Income Tax Department of India: Taxation of Virtual Digital Assets (VDA) | |
| TDS of 1% (section 194S of the Income-tax Act, 1961, as cited in the Income Tax Department guide) applies to payments for a virtual digital asset to a resident, with thresholds of Rs. 50,000 for certain individuals and HUFs and Rs. 10,000 for others. | Income Tax Department of India: Taxation of Virtual Digital Assets (VDA) | |
| Mandatory advertising disclaimer for crypto products (India) | ASCI: Guidelines for Advertising and Promotion of Virtual Digital Assets and Linked Services |
FAQ
Is Bybit available in India in 2026?
India is not on Bybit's Service Restricted Countries list, which showed "Last updated 2026-10-16" when we checked it on 16 October 2026. Bybit says it re-established operations for authorized users on 25 February 2025 and restored full app access on 8 September 2025. We do not give legal advice.
Is Bybit registered with FIU-IND?
According to Bybit's press release of 8 September 2025, it became registered with FIU-IND as a reporting entity in January 2025. The FIU-IND order itself describes Bybit as a VDA service provider and a Reporting Entity and gives no registration date.
Why did Bybit stop services in India in January 2025?
Inc42 reported on 10 January 2025 that, from 12 January 2025, Bybit would stop new trades, deposits and INR P2P listings, while withdrawals kept working, as a temporary measure while it secured its registration.
What documents do I need for Bybit KYC in India?
Bybit's official India guide says you verify an identity document and then complete a separate PAN verification (the accepted documents differ between Bybit's pages, so read its current KYC page), and that without verification deposits, withdrawals and trading are limited. Follow the current guide on the day you register.
Can I use Bybit P2P in India?
Bybit's official India guide lists P2P among the ways to buy crypto. It does not name INR as a deposit currency, so we make no claim about specific INR methods.
Is there a Bybit referral code for India?
Our Bybit referral code is CCHUB. We found no official source for a bonus amount for India, so this page states none. Do not trust a bonus amount that comes without an official source.
Where does Bybit restrict or exclude service?
Bybit's Excluded Jurisdictions list names the US, mainland China, Hong Kong, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Crimea and Sevastopol, the uncontrolled areas of the Donetsk, Luhansk, Kherson and Zaporizhzhia regions, Sudan and Syria. Dubai is served only by Bybit VAPO LLC. This is Bybit's own list of excluded jurisdictions, not a list of countries that banned Bybit. India is not listed.
Do I pay tax on Bybit profits in India?
The Income Tax Department guide states 30% (plus surcharge and cess) on income from the transfer of virtual digital assets, with no deduction other than the cost of acquisition and no set-off of losses, plus 1% TDS on payments to a resident (sections 115BBH and 194S of the Income-tax Act, 1961, as cited in that guide). We have not verified from an official source which provisions apply to transfers after the guide's date, so check the current rules with a tax adviser.