Bybit Secures UAE’s First Federal Virtual Asset License from SCA
Bybit, one of the world’s largest cryptocurrency exchanges, has made history by becoming the first to secure a full Virtual Asset Platform Operator License from the UAE Securities and Commodities Authority (SCA). This landmark approval allows Bybit to offer regulated virtual asset trading, brokerage, custody, and seamless fiat conversion services across the UAE under the direct oversight of the SCA. Unlike Dubai’s Virtual Asset Regulatory Authority (VARA) licenses, which are limited to the emirate of Dubai, the SCA license empowers Bybit to extend its services to both retail and institutional clients throughout the entire UAE mainland, significantly broadening its operational scope.prnewswire+2
The achievement follows Bybit’s initial In-Principle Approval from the SCA in February 2025, a step facilitated by the Blockchain Centre Abu Dhabi, which helped guide the exchange through the UAE’s regulatory landscape. Earlier this year, Bybit further strengthened its legal standing by obtaining a Markets in Crypto Assets (MiCA) license and, in September, resumed full trading operations in India, marking a period of robust international expansion.coinlaw+1
Ben Zhou, Bybit’s co-founder and CEO, described receiving the full SCA license as clear recognition of the exchange’s commitment to security, compliance, and transparency. The UAE continues to stand out as a global leader in digital assets regulation, with its supportive regulatory environment attracting major industry players and establishing the region as a center for compliant crypto innovation and adoption. In contrast to more adversarial regulatory climates in the US and parts of Asia, the UAE’s approach signals its ongoing emergence as a major hub for digital assets.prnewswire+1
