Bybit secures regulatory approval in UAE

The license came eight months after the regulator granted the company in-principle approval, and a few weeks after Bybit secured a non-operational license for Dubai.

Cryptocurrency exchange Bybit has secured a Virtual Asset Platform Operator License from the Securities and Commodities Authority of the United Arab Emirates (UAE), eight months after the regulator granted the company in-principle approval.

In a Thursday notice, Bybit said approval from the UAE financial regulator would allow the exchange to offer its global products and services to the region. Authorities in Austria granted the company similar licensing approval in May, and the exchange registered in India in February after briefly suspending its service and paying a $1-million fine over compliance violations. 

“Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to building trust through compliance and transparency,” said Bybit co-founder and CEO Ben Zhou. “The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards.”

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