The approval marks another major milestone in Bybit’s regulatory expansion, coming just eight months after the exchange first received in‑principle clearance from the SCA. The license authorizes Bybit to roll out its international trading products to users across the region, deepening its footprint in the Middle East’s rapidly maturing digital asset market.
Bybit co‑founder and CEO Ben Zhou described the authorization as validation of the company’s “trust‑through‑transparency” approach. “The UAE has become a leader in responsible crypto regulation,” Zhou said, adding that the license underscores Bybit’s focus on security and governance.
From the Gulf to Europe and Asia
The UAE license is the latest in a string of regulatory achievements for Bybit. Earlier this year, the exchange gained operational approval in Austria and resumed services in India after temporarily halting them to settle a $1 million compliance penalty. Together, these moves position Bybit among the few global exchanges maintaining a consistent regulatory presence across three continents.
A Unified Framework in the Emirates
The approval also reflects broader progress in the UAE’s own regulatory coordination. The SCA and Dubai’s Virtual Assets Regulatory Authority (VARA) announced a joint initiative in August to streamline oversight and introduce “licensing reciprocity,” allowing approvals from one agency to be recognized by the other.
Bybit was one of the early beneficiaries of this evolving structure. It initially obtained a non‑operational license from VARA, which paved the way for today’s full authorization under the SCA framework.
The UAE’s Crypto Ambitions
The Emirates has rapidly evolved into one of the world’s most active crypto jurisdictions. From Dubai’s innovation‑friendly sandbox to Abu Dhabi’s institutional‑grade infrastructure, the country is attracting global exchanges seeking predictable oversight and market access. Recent initiatives – including programs linking crypto investment to residency through Golden Visa pathways – have amplified its appeal to blockchain entrepreneurs and investors alike.
Security Challenges Amid Expansion
While regulatory progress has been steady, Bybit’s operational resilience was tested earlier this year when hackers linked to the Lazarus Group stole more than $1.4 billion in Ether (ETH) from the platform – one of the largest breaches in crypto history. The company has since tightened its security protocols and accelerated investments in internal monitoring systems.
Despite that setback, Bybit’s regulatory victories suggest the exchange is steering toward long‑term stability. Its new UAE license not only cements its place in the region’s financial ecosystem but also signals the country’s emergence as a serious contender for the title of global crypto capital.