Bybit has secured a significant victory by obtaining its Virtual Asset Platform Operator License from the United Arab Emirates’ Securities & Commodities Authority (SCA), making it the first crypto exchange to receive full licensing under this framework. This landmark achievement allows Bybit to offer its full range of services in the UAE, including trading, brokerage, custody, and fiat conversion, catering to both retail and institutional users. The license follows an In-Principle Approval granted in February 2023, which signaled regulator readiness but did not yet permit operations. This new licensing marks a major step forward for the UAE’s ambition to establish itself as a global leader in digital assets and blockchain innovation. Bybit’s full licensing demonstrates regulatory certainty and confidence in its operations. For users both within and outside of the UAE, this signifies clearer legal protection, enhanced transparency in compliance with AML and CFT rules, and alignment with global standards. Bybit is set to further solidify its presence in the UAE by expanding its physical and operational footprint through a larger regional center in Abu Dhabi, hiring more staff for compliance, customer support, and operations, and actively engaging within the UAE’s regulatory ecosystem, collaborating with local partners, participating in educational initiatives, and contributing to the development of crypto infrastructure within the country.