Bybit Secures First Complete Crypto Exchange Operator License in UAE
In a notable development for the cryptocurrency sector, Bybit, the second-largest digital asset exchange globally by trading volume, has been awarded the first complete crypto exchange operator license in the United Arab Emirates. This significant achievement, announced in a press release on Thursday, comes from the Securities and Commodities Authority (SCA), marking Bybit as the pioneering company to obtain this specific regulatory approval.
Regulatory Milestones and Compliance
This latest license follows an earlier In-Principle Approval granted by the SCA in February 2025, indicating that Bybit has now fully satisfied the regulatory body’s rigorous criteria on security, operational transparency, and compliance measures. Ben Zhou, the co-founder and CEO of Bybit, highlighted in a statement that this full license reflects the company’s steadfast dedication to fostering trust through adherence to compliance and transparency standards. He remarked on the UAE’s growing stature as a global hub for digital asset regulation, emphasizing the importance of their security and governance practices being recognized.
Significant Achievements in 2025
Additionally, this regulatory achievement is part of a series of significant milestones for Bybit within this year. Notably, the exchange successfully obtained the European Union’s Markets in CryptoAssets (MiCAR) license in May, showcasing its growing compliance framework across different regions. In September, Bybit also restarted full trading operations in India after effectively registering as a Digital Asset Service Provider and resolving regulatory issues with the country’s Financial Intelligence Unit (FIU), which had previously imposed a ban on the platform for lack of proper registration.
Future Plans and Local Engagement
Bybit had also received a provisional license from Dubai’s Virtual Assets Regulatory Authority (VARA), but the new SCA license extends its regulatory coverage across the UAE mainland, permitting the exchange to offer a range of services including crypto trading, brokerage, and custody solutions to both retail and institutional customers.
Plans are underway for Bybit to broaden its operations in the UAE, with strategic expansions into key regions like Abu Dhabi and Dubai, alongside intentions to hire staff locally in compliance, operations, and customer service. Furthermore, Bybit aims to collaborate with local organizations to enhance educational initiatives and promote Web3 advancements for its customer base.
