The Bybit crypto exchange app was removed from the Apple App Store in India today amid significant regulatory scrutiny.
Highlights
The Bybit app vanished from the Apple App Store in India.
However, the Bybit Pro app was still available on the App Store.
Whilst, Bybit was also not available for download on the Google Play Store.
Bybit, a popular crypto exchange, has faced a major setback in the Indian market. On Friday, March 22, the Bybit app was removed from the Apple iOS App Store amid escalating regulatory concerns in the country’s Web3 domain. Moreover, on social media platforms like X, speculations swirled around a regulatory crackdown on Bybit in India.
Bybit Vanishes From Apple App Store
The crypto community was shocked when the Bybit app vanished from the Apple App Store. The exact cause behind the recent development isn’t known yet. However, netizens believe it’s due to the increased regulatory uncertainty in India.
The co-founder of Smart View AI, Pushpendra Singh, took to X and wrote, “Due to regulatory uncertainty, Today #Bybit crypto exchange app has been removed from the Apple App Store in India.” However, the Bybit app is still available on the Google Play Store for Android users.
In addition, the Bybit Pro app is also available on the Apple App Store currently. Moreover, the users who have already downloaded Bybit on iOS or Android haven’t faced any issues yet. Furthermore, the Bybit website URL is also accessible without hassle.
However, Bybit’s departure from the App Store marks a significant update amid the regulatory concerns in India. The move has sparked speculations around the forthcoming steps that the regulators would consider toward Bybit. In addition, OKX is gearing up to shut down its operations in India.
Furthermore, the Web3 community is baffled owing to the recent crackdown on the foreign crypto exchanges. The users noted that they can’t access Binance, KuCoin, Gate.io, OKX and several other crypto exchanges and Bybit was one of the digital currency trading platforms that they relied on. Hence, if Bybit was to move out of India or face a ban, these users would be affected.
