Bybit’s Mykolas Majauskas on crypto regulation, AI and the future of tokenisation

Mykolas Majauskas, Global Head of Policy at Bybit, discusses the evolving crypto regulatory landscape, responsible innovation, AI-driven financial platforms, tokenisation and Bybit’s plans to expand its presence in India

Deepali Jain10 Sep 2026
16:05IST
New Update

Crypto regulation is moving from a largely cautious approach toward frameworks that seek to balance consumer protection, market integrity and innovation. For Bybit, India is emerging as an important market, with the company expanding its presence in Bengaluru and exploring the future of digital assets, payments and tokenisation. In this interview with Dataquest, Mykolas Majauskas, Global Head of Policy at Bybit, discusses responsible crypto innovation, the role of financial education, the rise of AI-driven financial platforms, tokenisation and what the evolving regulatory landscape could mean for the industry.

Regulators remain cautious about crypto and blockchain. What does responsible innovation look like in this space?

I think regulators have every right to be careful. That involves marketing integrity, consumer protection and building trust in companies that provide services to customers. At the same time, crypto companies that want to serve customers responsibly need proper authorisation, corporate governance, risk management, anti-money laundering and sanctions screening.

The standards are high, and companies have to meet them if they want to be considered proper financial market participants. I don’t think governments should lower those standards. At the same time, we have to keep pushing innovation and look at how traditional financial markets can integrate with the digital-asset industry.

You also see crypto platforms evolving into broader financial platforms. What does that shift mean for consumers?

We are seeing global crypto companies become one-stop financial platforms. You can have an IBAN, receive your salary, have a linked card, make payments and transfers, and invest through the same platform. I think this is also changing wealth management. People are increasingly taking responsibility for their own wealth rather than delegating every decision to fund managers and other intermediaries. Financial education therefore becomes very important. People need to understand the risks they are taking and learn how to manage their wealth themselves.

 The next layer will be AI. Instead of giving people graphs and buttons and asking them to make every decision, the platform could understand their intent and execute within defined parameters. But that also raises questions about suitability, risk and who is making the decision. Regulators and companies have to develop this together.

What role do you see AI playing in that future financial platform?

We already use AI internally for reporting, forecasting, sanctions screening, AML, customer service, market forecasting and trading. But the most important layer will be the front end. If you decide you want exposure to crypto for three months, you shouldn’t necessarily have to navigate graphs and buttons yourself. You have the intent, and the platform becomes the decision layer, determining which venue or asset to use and when to invest or sell, within the permissions and safeguards that apply. Voice and AI recognition will be an important part of that. But the risks also need to be understood. Products have to be appropriate for the people using them, and customers need to understand what they are taking on.

What role does financial education play as people take more control of their investments, particularly as AI becomes part of financial platforms?

I think financial education is a very important part of it. Globally, people are increasingly inclined to take risks themselves when they understand what they are doing and take ownership of their decisions, rather than delegating everything to fund managers, pension managers and other institutions. If you have a phone and an identity card, you can potentially be onboarded onto a financial platform. That makes education even more important because people need to understand the risks they are taking and learn how to manage their own wealth.

The next layer will be AI. We already use AI for internal reporting, forecasting, sanctions screening, AML and customer service. The most important layer will be the interface. Instead of navigating graphs and buttons, a customer could express an intent, and the platform could become the decision layer. But we also need to understand the risks. Are the products appropriate for the customer? Who takes responsibility for the decision? Could widespread use of AI create volatility? These questions have to be understood by governments, regulators and companies as they build this future.

Which real-world assets do you expect to become mainstream through tokenisation, and what does that mean for India?

I think gold is a big thing. Bonds are a big thing, and equities are moving on-chain. We are seeing serious initiatives by Nasdaq and the New York Stock Exchange around moving real-world assets on-chain. Germany, France and the UK are also moving in that direction. So, I believe stocks, bonds and commodities are already being moved on-chain and are becoming more mainstream, depending on the location.

For India, it is up to the authorities to decide how they want to structure it. For companies like ours, we will comply. If they say jump, the only question we ask is how high. If the authorities decide they want to build tokenisation here, we will help them do it and bring the market competence and industry leaders to work here.

What kind of policy framework would help support innovation while protecting consumers and the financial system?

I think the gold-standard framework is Europe’s Markets in Crypto-Assets regulation. Many regulators around the world have taken elements of it, changed them and adapted them to their regions. It provides a framework to manage risks, protect market integrity and consumers, and ensure responsible marketing. Europe has been leading in regulation. The US is now pushing forward, the UAE is advanced, and Hong Kong is doing a great job. There are many places to learn from and work with. While protecting consumers, market integrity and financial stability, we also have to remain open to innovation. India has done a fantastic job building its payment rails, and UPI is a wonderful journey.

What are the biggest advantages of tokenised assets, and how far away are they from becoming mainstream?

Once assets are properly tokenised, they can be traded 24/7, settlement can be quicker and easier, and movement across jurisdictions can be easier. I believe that makes them more accessible, liquid and simplified. It depends on the type of tokenisation, whether assets are digitally native or have digital twins on-chain alongside a traditional register. So it is important to understand the risks and structures.

One thing is clear: it is not a pilot anymore. The experimentation time is over and the show is going on the road. We have roughly $30 billion of assets tokenised today. While that sounds significant, it is still a very small proportion of the global equity market, which is around $150 trillion. The opportunity is huge, but the journey is still very long.

What are Bybit’s plans for India?

We are FIU-registered and GST-registered here, and we are paying millions in taxes. We are setting up our office and India hub in Bengaluru because we believe it is a fintech hub and a great opportunity for us. We plan to hire up to 20 people in Bengaluru, including lawyers, risk managers, developers and business development professionals. Right now, our services in India are focused on digital assets, but we are looking at possibilities around payments, transfers and potentially tokenised stocks in the future. The market is very dynamic, so we want to build properly regulated, licensed and supervised products that the government is comfortable with and that properly protect consumers.

Note:This is a transcript of an interview conducted earlier this year in May. References to the company’s plans, operations, market conditions and regulatory developments reflect the context at the time of the interview.

Source: www.dqindia.com