Bybit obtains complete regulatory approval from Dubai for spot trading operations
The cryptocurrency exchange Bybit has received a VARA license enabling spot trading activities in Dubai, though operational launch is pending completion of further regulatory protocols.
The cryptocurrency trading platform Bybit has obtained complete regulatory authorization for spot trading operations in Dubai after receiving preliminary approval in an earlier phase.
According to Bybit's Thursday announcement, the company's Dubai-based entity, Bybit Fintech FZE, has been granted a virtual asset service provider (VASP) license by the Virtual Assets Regulatory Authority (VARA) of Dubai, permitting exchange services that include spot trading activities.
In a statement to Cointelegraph, a representative from Bybit explained that the entity's prior in-principle approval held no operational status and did not authorize customer service provision within Dubai. The new license appears as active on VARA's public registry, granting permission to offer services across retail, qualified and institutional investor categories.
According to the spokesperson, Bybit is still required to finalize VARA's launch procedures and satisfy operational standards prior to commencing spot trading service offerings. No specific timeline for the launch was disclosed by the company.
In October 2025, Bybit had already obtained a complete Virtual Asset Platform Operator license from the Securities and Commodities Authority (SCA), the federal regulatory body of the United Arab Emirates. That said, the service limitations of the exchange specifically exclude Dubai from the territories covered by its SCA-licensed operation, Bybit Virtual Asset Platform Operator LLC.
When asked about the distinctions between the VARA license and the SCA authorization, or whether Dubai services were permitted under the previous license, the spokesperson chose not to provide additional commentary.