Bybit has achieved a historic regulatory milestone by becoming the first cryptocurrency exchange to receive a full Virtual Asset Platform Operator License from the UAE Securities and Commodities Authority (SCA). This license, granted in October 2025, enables Bybit to offer a comprehensive suite of services across the entire United Arab Emirates, including trading, brokerage, custody, and fiat conversion for both retail and institutional clients.
The approval follows Bybit's In-Principle Approval from the SCA in February 2025, which was supported by the Blockchain Centre in Abu Dhabi. This full license distinguishes Bybit from competitors like Binance and OKX, which operate under provisional licenses from Dubai's Virtual Assets Regulatory Authority (VARA), limiting their scope to local jurisdictions. Ben Zhou, Co-founder and CEO of Bybit, stated, "Receiving the full license is a testament to our commitment to compliance and transparency," highlighting the UAE's forward-looking regulatory approach.
The UAE has been actively developing a robust digital asset ecosystem, attracting global firms with clear regulations. Bybit's licensing is part of a broader trend, with other companies like BitGo also receiving approvals for crypto custody and brokerage. This move reinforces the UAE's ambition to become a global hub for regulated digital assets, offering legal clarity that appeals to institutional players.
In 2025, Bybit has secured multiple regulatory wins, including Markets in Crypto-Assets Regulation (MiCAR) registration in the European Union in May and resuming full operations in India in September after meeting compliance requirements. These achievements underscore Bybit's strategy of prioritizing regulatory engagement to foster secure and responsible digital asset operations.