UAE grants Bybit full virtual asset service provider license
According to the company’s announcement, the Virtual Asset Service Provider (VASP) license was granted by the UAE Securities and Commodities Authority (SCA), making Bybit the first crypto exchange to obtain such approval.
While Bybit previously held a temporary license from the Dubai Virtual Assets Regulatory Authority (VARA), the SCA license represents a major milestone, as its jurisdiction covers the UAE mainland — unlike VARA, which regulates virtual asset activities only within Dubai.
This achievement follows the initial in-principle approval granted by the SCA in February 2025. The Bybit team emphasized that the full license demonstrates full compliance with the regulator’s rigorous standards for security infrastructure, operational transparency, and compliance.
“Obtaining a full Virtual Asset Service Provider license from the SCA reaffirms Bybit’s unwavering commitment to building trust through regulatory compliance and transparency. The UAE has become a global leader in digital asset regulation, and this recognition highlights the strength of our security and governance standards,” said Ben Zhou, co-founder and CEO of Bybit.
Expanding regional operations and hiring local talent
The SCA license allows Bybit to expand its services across the entire UAE, offering advanced crypto trading, brokerage, and custody solutions to both retail and institutional clients.
Bybit announced plans to operate regionally from Abu Dhabi and Dubai while hiring local professionals for compliance, operations, and customer support roles.
Additionally, the exchange will collaborate with UAE-based companies to deliver new Web3 education and innovation programs for the local market.
As we wrote, Mandatory registration on Bybit.eu for EU clients — Bybit EU license effective July 1, 2025!
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