ByBit, one of many largest cryptocurrency exchanges on the earth, has change into the primary alternate to obtain an SCA license within the UAE. The crypto platform is formally licensed by the UAE Securities and Commodities Authority (SCA) to function as a Digital Asset Platform Operator. Beneath the SCA’s Digital Asset Platform Operator License, Bybit will provide regulated digital asset buying and selling, brokerage, custody, and fiat conversion companies within the UAE.
“Receiving the total Digital Asset Platform Operator License from the SCA is a testomony to Bybit’s unwavering dedication to constructing belief by way of compliance and transparency,” Ben Zhou, Co-founder and CEO of Bybit, stated in an announcement. “The UAE has emerged as a world chief in digital asset regulation, and this recognition underscores the energy of our safety and governance requirements.”
ByBit Will get SCA Approval in UAE
Bybit initially obtained its In-Precept Approval (IPA) from the SCA in February 2025 with the assistance of the Blockchain Centre, Abu Dhabi, in navigating SCA’s framework. Earlier this yr, Bybit snagged a Markets in Crypto Property (MiCA) license, and the agency additionally resumed full buying and selling operations in India in September. “Receiving the total Digital Asset Platform Operator License from the SCA is a testomony to Bybit’s unwavering dedication to constructing belief by way of compliance and transparency,” added Bybit CEO Zhou in Thursday’s assertion.
A number of crypto corporations with operations in Dubai are regulated below the VARA framework. Nevertheless, SCA regulation is wider in scope because it applies to the UAE mainland, and applies to entities exterior Dubai’s jurisdiction below VARA. With the brand new SCA license, ByBit can provide regulated digital asset buying and selling, brokerage, custody, and fiat conversion companies to each retail and institutional shoppers throughout the UAE.
Amid sweeping modifications within the regulation of crypto worldwide, the UAE has change into a hub for crypto lovers to function. Bybit’s regulatory milestone represents a distinction to the adversarial regulatory environments within the U.S. and components of Asia, signaling that the Center East continues to emerge as a hub for compliant crypto development and adoption. The US and different international locations within the West/Europe are additionally changing into extra welcoming, however the UAE has been a staple in crypto for years.
