Bybit Secures Full UAE Virtual Asset License as First Crypto Exchange to Obtain SCA Approval

Bybit, ranked as the world's second-largest cryptocurrency exchange by trading volume, has obtained the complete Virtual Asset Platform Operator License from the United Arab Emirates Securities and Commodities Authority (SCA). This landmark achievement makes Bybit the inaugural cryptocurrency exchange to receive this comprehensive regulatory approval from the SCA authorities. While numerous crypto companies operating in Dubai fall under the VARA regulatory framework, the SCA license holds broader jurisdiction covering the entire UAE mainland, including entities outside Dubai's VARA oversight. Bybit maintains both its provisional VARA license and now the comprehensive SCA authorization. With this newly acquired Virtual Asset Platform Operator License, Bybit is authorized to provide fully regulated digital asset trading services, brokerage operations, secure custody solutions, and fiat currency conversion capabilities to both retail investors and institutional clients throughout the United Arab Emirates. The exchange has announced ambitious expansion plans including establishing an enlarged regional operations headquarters in Abu Dhabi, creating over 500 employment positions across Abu Dhabi and Dubai, accelerating local recruitment in compliance, operational, and customer service departments, and launching innovative educational and Web3 development programs through strategic local partnerships. Bybit's regulatory journey began with receiving In-Principle Approval from the SCA in February 2025, facilitated by the Blockchain Centre in Abu Dhabi. This achievement follows Bybit's recent acquisition of the Markets in Crypto Assets (MiCA) license and the successful resumption of complete trading operations in India during September. "Securing the full Virtual Asset Platform Operator License from the SCA demonstrates Bybit's steadfast dedication to establishing trust through rigorous compliance protocols and operational transparency," stated Bybit CEO Ben Zhou in an official announcement.