**Exciting News from Dubai: Bybit Takes a Major Step Forward in the UAE!**
Dubai, United Arab Emirates, February 27th, 2025, Chainwire – Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to share that it has received its In-Principle Approval (IPA) to operate as a Virtual Asset Platform Operator in the UAE from the Securities & Commodities Authority (SCA), dated February 18, 2025. Bybit is also nearing the final stages of obtaining its fully operational license, marking a significant milestone in its mission to create a secure, stable, and compliant trading platform for crypto enthusiasts in the region.
This IPA highlights Bybit’s dedication to maintaining the highest regulatory and compliance standards as it works towards full operational approval from the SCA. With this authorization, Bybit is one step closer to offering a wide array of digital asset services to both retail and institutional clients in the UAE. The company’s progress in the UAE builds on its existing regulatory approvals across the Middle East, reinforcing its commitment to compliance in key financial centers.
Ben Zhou, Co-founder and CEO of Bybit, expressed his excitement about this achievement: “We are honored to have received the IPA from SCA. This approval is a vital step in our journey to provide secure and transparent crypto trading solutions. Bybit is committed to collaborating closely with regulators to cultivate a compliant and innovative digital asset ecosystem for both retail and institutional investors in the UAE.”
The UAE has emerged as a leading global hub for cryptocurrency and blockchain innovation, supported by forward-thinking regulatory frameworks that align perfectly with Bybit’s vision of connecting traditional finance with digital assets. Bybit is steadfast in its commitment to adhering to global compliance standards, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) protocols, ensuring a safe and trustworthy trading environment.
Beyond the UAE, Bybit is actively securing regulatory approvals worldwide, expanding its footprint in key jurisdictions such as India, Georgia, Kazakhstan, and Turkey, further solidifying its commitment to regulatory compliance. These licenses empower Bybit to broaden its reach while upholding the highest security and compliance standards for users around the globe.
#Bybit / #TheCryptoArk / About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a vibrant community of over 60 million users. Founded in 2018, Bybit is on a mission to redefine openness in the decentralized world by creating a simpler, more inclusive ecosystem for everyone. With a strong focus on Web3, Bybit strategically partners with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Known for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between traditional finance and decentralized finance, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Join us in discovering the future!
