India, Jan. 10 -- Dubai-based cryptocurrency exchange Bybit has announced a temporary restriction on its services for Indian users, effective Sunday (January 12).

"Due to recent developments from Indian regulators and in continuation of previously implemented restrictions, we regret to inform you that, effective Jan 12, 2025, 8AM UTC, Indian users will temporarily be unable to open new trades or access any products on the Bybit platform," the company said in an email sent to the users.

According to the company, the Indian users will no longer be able to open new trades or access Bybit's range of products and services, including crypto and fiat trading, copy trading, trading bots, and P2P ads.

However, withdrawals will remain unaffected...