Bybit becomes first exchange to secure full UAE crypto license from SCA

ByBit, a crypto exchange, has secured a virtual asset platform operator license from the Securities and Commodities Authority (SCA) of the ￰0￱ that end, ByBit has become the first crypto exchange to obtain a full license from the ￰1￱ the SCA’s license, ByBit will offer regulated virtual asset trading, brokerage, custody, and fiat conversion services to both retail and institutional clients across the ￰2￱ SCA regulation has a wider scope, as it applies to the UAE mainland and also covers entities outside Dubai’s jurisdiction under ￰3￱ 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 building trust through compliance and ￰4￱ UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards.” ByBit plans to establish an operations centre in Abu Dhabi The crypto exchange plans to expand its local footprint by establishing a larger regional operations centre in Abu Dhabi with over 500 employees across Abu Dhabi and ￰5￱ also aim to hire more local talent for compliance, operations, and customer service, and plan to collaborate with local partners to develop new educational and Web3 innovation ￰6￱ Liu, Co-CEO of Bybit, added, “The SCA’s clear, robust, and well-structured regulatory framework provides a strong foundation for global exchanges like Bybit to operate with confidence and clarity… We look forward to deepening our collaboration as we bring more resources, products, and expertise to the UAE market.” Bybit’s acceptance by the UAE comes amid intensifying global scrutiny of crypto exchanges following the collapses and lawsuits that rocked the sector in 2022–2023.

Bybit’s regulatory milestone stands out against the hostile regulatory conditions in the US and certain parts of ￰7￱ indicates that the Middle East remains a key destination for compliant cryptocurrency growth. Meanwhile, competitors such as Binance and OKX have secured provisional or operational licenses under Dubai’s VARA regime. Bybit’s SCA license is the first full federal authorization covering the entire ￰8￱ distinction provides a competitive edge that enables Bybit to extend regulated services nationwide rather than being limited to Dubai’s ￰9￱ global trading volumes remain strong ByBit initially received its In-Principle Approval (IPA) from the SCA in February 2025 with the help of the Blockchain Centre, Abu Dhabi, in navigating the SCA’s ￰10￱ this year, Bybit snagged a Markets in Crypto Assets (MiCA) license, and the firm also resumed full trading operations in India in ￰11￱ company’s strategy focuses on securing licenses before market entry, rather than facing legal hurdles after launch.

Meanwhile, ByBit’s global trading volumes have remained ￰12￱ company serves a global community of over 60 million users with over 100 crypto tokens listed and over 300 spot trading pairs, and has assets worth 1.3 ￰13￱ company attributes this to its security-first and compliance-oriented ￰14￱ growing list of licenses reflects investor demand for transparent, law-abiding platforms. However, the company has not had an all-around smooth ￰15￱ February, the crypto exchange suffered a $1.46 billion robbery by the Lazarus ￰16￱ theft has driven a record-breaking $2 billion haul for North ￰17￱ figure represents the largest annual tally for North Korean hackers to date, with three months still to go in ￰18￱ to the London-headquartered blockchain analysis firm Elliptic, the notorious group has stolen over $6 billion in cryptocurrency to date, funding the autocratic regime.

“The majority of the hacks in 2025 have been perpetrated through social engineering attacks, where hackers deceive or manipulate individuals in order to gain access to cryptocurrency,” Elliptic ￰19￱ your strategy with mentorship + daily ideas - 30 days free access to our trading program