The approval follows Bybit’s in-principle authorisation earlier this year in February, which was granted with assistance from the Blockchain Centre in Abu Dhabi. The SCA licence expands on that earlier approval by giving Bybit full operational status under the UAE’s Virtual Asset Service Provider regime. The regulatory permission allows the exchange to work across the UAE mainland, not just within Dubai’s jurisdiction under VARA.
Ben Zhou, Co-founder and CEO of Bybit, described the licence as a demonstration of “unwavering commitment to building trust through compliance and transparency,” noting that the UAE’s regulation of digital assets has gained global attention. Co-CEO Helen Liu praised the SCA’s “clear, robust, and well-structured regulatory framework,” and signalled plans to deepen local collaboration on education and Web3 initiatives in the UAE.
Bybit is now preparing to scale its regional presence by establishing a larger operations centre in Abu Dhabi, with plans to hire over 500 staff across Abu Dhabi and Dubai focusing on compliance, operations, and customer service. The company has indicated it will partner with local institutions to roll out education programmes and Web3 innovation efforts.
This licensing milestone builds on a series of regulatory achievements for Bybit in 2025. Earlier in the year, it secured a MiCAR licence in Europe, and resumed full trading operations in India in September. The exchange has pursued a compliance-first strategy, aiming to secure licences before market entry rather than face legal challenges post hoc.
The UAE’s regulatory environment for digital assets continues to evolve. Under its design, the SCA licence carries broader reach beyond Dubai’s VARA regime; many other exchanges have obtained provisional or operational licences under VARA, but the SCA licence extends coverage across the federation. Bybit’s status as the first fully licensed exchange under this regime gives it a competitive edge in offering services nationwide.
The crypto sector has been under heightened regulatory scrutiny globally following high-profile exchange failures and security breaches in recent years. In February 2025, Bybit suffered a $1.46 billion theft by the Lazarus hacking group, one of the largest cryptocurrency heists on record. That episode intensified market demands for transparent security protocols.
Analysts say Bybit’s fully regulated status in the UAE could attract institutional capital to the region. The licence promises legal certainty for users, which may help reduce counterparty risk concerns that have discouraged some institutional investors from entering digital assets.
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Cryptocurrency