<h1>Bybit Fintech Limited fined Rs. 9.27 crore for violating PMLA due to lack of FIU-IND registration.</h1> The Financial Intelligence Unit-India (FIU-IND) imposed a penalty of Rs. 9.27 crore on Bybit Fintech Limited, a Virtual Digital Asset Service Provider, for violating obligations under the Prevention of Money Laundering Act (PMLA) and related rules. Bybit failed to secure mandatory registration with FIU-IND while expanding its services in India. This non-compliance led to the blocking of their websites. Previously, FIU-IND issued guidelines for Anti-Money Laundering and registration requirements for Virtual Digital Asset Service Providers. The Director of FIU-IND found Bybit liable for multiple violations, resulting in the monetary penalty.