Bybit Makes History: First Crypto Exchange to Secure Full UAE License from SCA in 2025

• Bybit’s Regulatory Milestones

In a landmark move for the crypto industry, Bybit has become the first exchange to secure a full VIRTUAL Asset Platform Operator License from the UAE’s Securities and Commodities Authority (SCA). This milestone, achieved in October 2025, grants Bybit nationwide regulatory approval to offer trading, custody, and fiat services across the UAE—setting it apart from competitors limited to Dubai’s jurisdiction. The article dives into Bybit’s expansion plans, regulatory strategy, and how this win positions the Middle East as a crypto hub amid tightening global scrutiny. --- ### Why Is Bybit’s SCA License a Game-Changer for Crypto in the UAE?

Bybit’s full SCA license isn’t just another regulatory checkbox—it’s a federal-level green light covering the entire UAE, including areas outside Dubai’s VARA regime. While rivals like Binance and OKX operate under provisional Dubai licenses, Bybit can now serve retail and institutional clients nationwide with regulated trading, brokerage, and fiat conversions. This distinction reflects the UAE’s progressive stance on crypto, contrasting sharply with the U.S.’s adversarial climate. As Ben Zhou, Bybit’s CEO, put it: “This license validates our compliance-first approach. The UAE is leading in digital asset regulation, and we’re proud to align with their standards.”

--- ### How Will Bybit Leverage Its UAE License for Expansion?

Bybit isn’t stopping at paperwork. The exchange plans to establish a regional operations hub in Abu Dhabi, hiring 500+ employees and collaborating with local partners on Web3 education programs. Helen Liu, Bybit’s Co-CEO, emphasized the SCA’s “robust framework” as a springboard for bringing more products to the UAE market. Notably, Bybit’s strategy of securing licenses *before* market entry—evidenced by its 2025 MiCA approval and India relaunch—avoids the legal pitfalls plaguing competitors. Fun fact: Their Abu Dhabi office will sit NEAR the Blockchain Centre, which helped navigate the SCA process.

--- ### Bybit’s Global Footprint: Trading Volumes and Security Challenges

Despite a $1.46 billion hack by North Korea’s Lazarus Group in February 2025 (part of a record $2 billion haul for Pyongyang), Bybit’s trading volumes remain robust. The platform boasts 60M+ users, 300+ spot pairs, and $1.3 trillion in assets, per CoinMarketCap data. Its “security-first” model and growing license portfolio—from the SCA to MiCA—appeal to investors seeking transparency. Still, the Lazarus incident underscores crypto’s vulnerability to social engineering attacks, as noted by Elliptic. Pro tip: Always enable 2FA.

--- ### UAE vs. Global crypto Regulation: What’s the Difference?

While the U.S. cracks down and Asia wobbles, the UAE’s clear rules attract exchanges like Bybit. The SCA license covers mainland UAE, unlike Dubai’s VARA, which has narrower jurisdiction. This federal backing gives Bybit a competitive edge—imagine offering crypto-fiat services from Abu Dhabi to Fujairah without regulatory whack-a-mole. As Zhou quipped, “We’re not just building in the UAE; we’re building *with* the UAE.” Meanwhile, the SEC’s lawsuits against other exchanges make the Middle East’s appeal obvious.

--- ### FAQ: Bybit’s UAE License and Crypto Landscape

Bybit’s Regulatory Milestones

What does Bybit’s SCA license allow?

The license permits regulated virtual asset services—trading, custody, brokerage, and fiat conversions—across all UAE emirates, not just Dubai.

How does this compare to Binance’s UAE status?

Binance holds a provisional VARA license limited to Dubai, while Bybit’s SCA approval is federal and nationwide.

Did the Lazarus hack impact Bybit’s operations?

Despite the $1.46 billion theft, Bybit’s trading volumes and user base stayed strong, per CoinMarketCap.