Cryptocurrency exchange Bybit just achieved a major milestone in its global expansion strategy. The platform has officially received a Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the UAE, following an in-principle approval granted eight months ago.
This license empowers Bybit to offer its full suite of global crypto products and services across the UAE, signaling the exchange’s commitment to compliance, transparency, and investor trust.
UAE: A Global Hub for Regulated Crypto
Bybit CEO Ben Zhou emphasized that the UAE has become a leader in digital-asset regulation. “The full license demonstrates our dedication to building trust through compliance and transparency,” Zhou said. With Dubai and the UAE actively shaping a unified regulatory framework, the region is now a magnet for global crypto innovation.
Previously, Bybit expanded its regulatory footprint in Europe and Asia. The company secured regulatory approval in Austria in May and registered in India in February, following a brief service suspension and a $1 million compliance fine.
These steps reflect Bybit’s strategy to operate transparently while entering new markets responsibly.
Navigating the UAE’s Complex Crypto Landscape
Operating in the UAE requires navigating a multi-layered regulatory environment. The Dubai Virtual Assets Regulatory Authority (VARA) and the SCA partnered in August to streamline crypto licensing across the emirates, including reciprocity agreements that recognize approvals from either authority.
Bybit initially received a non-operational license from VARA in Dubai in September but pursued full operational approval. The SCA license now completes that goal, giving the exchange full operational capabilities across the country.
Why This Matters
Dubai and the UAE have strategically positioned themselves as global crypto hubs, attracting institutional and retail investors alike. Bybit’s licensing milestone underscores the growing confidence in regulated digital-asset markets in the region.
The UAE’s efforts to combine regulatory clarity with innovation like the controversial Open Network Golden Visa program allowing investors to gain residency for $100,000, signal the nation’s intent to create a secure yet dynamic environment for crypto growth.
Bybit’s SCA license is more than just regulatory compliance, it’s a strategic lever to expand services, enhance credibility, and cement its position in the Middle East’s fast-growing crypto ecosystem.
