Bybit's UAE License Cements Nation as Global Crypto Regulation Leader
Bybit has become the first cryptocurrency exchange to obtain a full Virtual Asset Platform Operator License from the United Arab Emirates' Securities and Commodities Authority (SCA), marking a significant regulatory milestone in the Gulf region [1]. The approval, announced on October 9, 2025, follows the exchange's In-Principle Approval (IPA) in February 2025, with assistance from Abu Dhabi's Blockchain Centre [2]. This license enables Bybit to offer regulated services-including virtual asset trading, brokerage, custody, and fiat conversion-to both retail and institutional clients across all UAE emirates [3].
The SCA license is broader in scope than Dubai's Virtual Assets Regulatory Authority (VARA) framework, under which Bybit already holds a provisional license [4]. The federal-level approval allows the exchange to operate nationwide, whereas VARA licenses are confined to Dubai's jurisdiction. Bybit CEO Ben Zhou emphasized that the license underscores the company's commitment to compliance and transparency, stating, "The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards" [5]. Co-CEO Helen Liu added that the SCA's "clear, robust, and well-structured regulatory framework" provides a foundation for global exchanges to operate with confidence [6].
The approval aligns with Bybit's strategic expansion in the UAE. The exchange plans to establish a regional operations center in Abu Dhabi, employing over 500 staff across compliance, operations, and customer service roles in Abu Dhabi and Dubai [7]. Additionally, Bybit intends to launch Web3 education and innovation programs in collaboration with local partners to foster adoption and regulatory alignment [8]. The SCA and VARA announced a strategic partnership in August 2025 to unify crypto regulations, including licensing reciprocity between the two authorities [9].
Bybit's regulatory progress in the UAE follows a series of global approvals in 2025. In May, it secured a Markets in Crypto-Assets (MiCA) license in the European Union [10]. In September, the exchange resumed full operations in India after paying a $1.06 million fine for compliance violations and re-registering under local anti-money laundering laws [11]. These developments highlight Bybit's "compliance-first" strategy, positioning it to compete in markets with stringent regulatory environments.
The UAE's growing crypto ecosystem, characterized by 210% growth in adoption and $30 billion in transactions between July 2023 and June 2024 [12], has attracted major exchanges like Crypto.com and Deribit, which operate under VARA licenses. Bybit's SCA license differentiates it by enabling nationwide services, offering a competitive edge over rivals limited to Dubai. The UAE's regulatory clarity has also spurred investments, including a $2 billion commitment from an Abu Dhabi firm to Binance and plans for a dirham-pegged stablecoin by TetherUSDT-- [13].
Bybit, the second-largest exchange by trading volume, serves 60 million global users and lists over 100 crypto tokens. Its proactive approach to securing licenses before market entry reflects investor demand for transparent platforms amid heightened global scrutiny of crypto firms [14]. Despite a $1.46 billion security breach in February 2025 [15], the exchange has maintained strong trading volumes, attributed to its security-focused model.
The SCA license cements the UAE's status as a hub for regulated digital assets, with Dubai's VARA recently fining 19 unlicensed crypto firms and major exchanges like HashKey Group expanding their presence [16]. Bybit's achievement underscores the UAE's role in shaping a balanced regulatory landscape that supports innovation while ensuring compliance.
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