Bybit has fairly bagged the UAE’s inaugural Virtual Asset Platform Operator License from the Securities and Commodities Authority, a bit of a jazzy bonnet-toss for the desert, if you follow. It’s the Emirates’ sole fully operational, licensed crypto exchange strutting about like a peacock in a thimble, which is saying something in a land of sand and spreadsheets. 🐪✨
The approval lets Bybit legally offer virtual asset trading, brokerage, custody, and fiat conversion to both retail chaps and institutional bigwigs, all under the UAE’s neat regulatory umbrella. A proper step toward turning the UAE into a global hub for digital assets and Web3 finance, with a sunlit bow on top. 😎
Bybit Secures UAE’s First Virtual Asset Platform Operator License from Securities and Commodities Authority
Ben Zhou, Co-founder and CEO of Bybit, said: “Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to compliance and transparency, and to the UAE’s forward-thinking approach to regulation that sets a model for how digital asset oversight should work.”
– Bybit (@Bybit_Official) October 9, 2025
Ben Zhou greeted the achievement as “a testament to our commitment to compliance and transparency,” noting that the UAE’s forward-looking regulation “sets a model for how digital asset oversight should work.” A sensible couple of sentences, one might think, spoken with the calm of a man who knows his onions-and his licenses. 🧅🔒
Co-CEO Helen Liu credited the SCA’s clarity and structure for delivering the go-ahead, saying Bybit plans to scale its regional presence by hiring over 500 staff in Abu Dhabi and Dubai while expanding Web3 education and local partnerships. A proper expansionist mood, if you ask me, with plenty of coffee and contracts to boot. ☕🏢
Bybit Extends Its Global Compliance Playbook
The UAE license comes on the heels of a string of regulatory milestones for Bybit in 2025, including securing its MiCAR license in Europe and resuming full operations in India after smoothing things over with local authorities. 💼🌍
In India, Bybit paid a $1.06 million FIU fine and re-registered under the country’s Prevention of Money Laundering Act (PMLA), allowing it to restore trading for Indian users in September. CEO Ben Zhou described it as “a new chapter,” a phrase that sounds almost heroic in a well-drilled chorus of compliance. Bybit aims to rebuild trust and grow responsibly across Asia. 📜💫
The twin approvals, in India and the UAE, spotlight Bybit’s pivot toward jurisdictional legitimacy as a competitive edge. While many exchanges retreat in the face of tightening global oversight, Bybit is pairing with regulators to secure long-term operating certainty. 🚀🔒
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2025-10-09 20:05