Bybit, the 2nd-largest crypto exchange by volume, will suspend trading services in India on Jan 12 due to regulatory changes. Users can still withdraw funds. Bybit aims to secure a Virtual Digital Asset Service Provider license in the coming weeks. India’s crypto regulations have tightened, with authorities cracking down on tax compliance and advocating for CBDCs over private cryptocurrencies. Despite challenges, India ranks in the top 10 for global crypto adoption. Bybit has faced similar issues in France and Japan.