Bybit: Temporarily restricts services for Indian users starting from January 12

ChainCatcher message, Bybit officially announced that due to the latest policies from Indian regulatory authorities and the continuation of previously implemented restrictions, Indian users will temporarily be unable to open new trades or access any products on the Bybit platform starting from 8 AM UTC on January 12, 2025. The only exception is the withdrawal function, which will remain available for user convenience. The specific impacts include:

1. Trading and deposits: All cryptocurrency and fiat trading products will stop accepting new orders, and existing derivative positions will be adjusted to "close only" mode, with no new or modified positions allowed. The deposit functions for cryptocurrencies and fiat will also be temporarily halted.
2. Copy trading and trading bots: All master-slave relationships in copy trading and trading bots will terminate before 5 AM UTC on January 13.
3. P2P advertisements: All advertisements priced in Indian Rupees (INR) will be removed at 8 AM UTC on January 12.

Bybit stated that it will continue to comply with relevant regulations, provide compliant services to users, and offer convenient withdrawal channels for affected users.