Cryptocurrency exchange Bybit has received In-Principle Approval (IPA) from the Securities & Commodities Authority (SCA) of the United Arab Emirates to establish a Virtual Asset Platform in the country.
The approval, granted on February 18, 2025, positions Bybit to soon offer licensed crypto trading services in one of the world’s fastest-growing digital asset hubs.
Bybit officials confirmed they are now completing the final regulatory requirements to secure full operational status in the near future.
Bybit Seeks Regulatory Compliance Amid UAE’s Crypto Expansion
This approval allows the exchange to move forward with plans to offer virtual asset services to both retail and institutional clients within the UAE’s growing digital economy.
Ben Zhou, Co-founder and CEO of Bybit, highlighted the importance of this regulatory milestone, stating:
“We are honored to have received the IPA from SCA. This approval marks a crucial step in our journey to providing secure an
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