The post Bybit Gets Green Light to Launch Crypto Platform in UAE appeared first on Coinpedia Fintech News
Bybit, one of the biggest crypto exchanges, is getting closer to securing a full operational license in the United Arab Emirates (UAE). This approval comes at a crucial time, as the exchange recently suffered a massive $1.4 billion hack. The exchange recently received in-principle approval (IPA) from the UAE’s Securities and Commodities Authority (SCA), bringing it one step closer to obtaining a full operational license.
Bybit Obtain UAE In-Principle Approval
On February 18, 2025, Bybit secured the IPA to operate as a Virtual Asset Platform Operator in the UAE. Meanwhile, this approval just days before it was hit by a $1.4 billion hack on February 21. The attack, one of the biggest in crypto history, happened during a transfer between Bybit’s cold and hot wallets
This approval highlights the company’s commitment to compliance and regulatory standards in the regio
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