Bybit Navigates UAE’s Evolving Crypto Landscape to Secure Full Federal License

In a significant step for its Middle East strategy, Bybit has obtained a full Virtual Asset Platform Operator License from the UAE’s federal Securities and Commodities Authority (SCA). This final approval culminates an eight-month process that began with an in-principle agreement.

This federal license allows Bybit to offer its services across the region, a critical development given the UAE’s previously fragmented regulatory approach. Companies have historically had to seek separate approvals from different emirates, such as Dubai’s VARA, which granted Bybit a non-operational license last year.

CEO Ben Zhou praised the UAE’s regulatory leadership, stating the license “underscores the strength of our security and governance standards.”

The timing is notable, as the SCA and Dubai’s VARA recently announced a partnership to create “licensing reciprocity,” a policy that would have directly benefited Bybit’s current situation by harmonizing federal and local approvals.