Bybit wins VARA approval for spot exchange services in Dubai

Bybit has obtained a Virtual Asset Service Provider licence from Dubai’s Virtual Assets Regulatory Authority for exchange services covering spot trading, adding to the crypto exchange’s regulatory approvals as it expands its international business. The license was issued to Bybit Fintech FZE and supports the company’s efforts to develop its operations within Dubai’s regulatory framework. Bybit established its international headquarters in the emirate in 2022 and said it remains focused on compliance, security and risk management as it grows its presence across global markets. The licence is part of Bybit’s extensive regulatory push in 2026, which the company said includes five new licenses and regulatory approvals across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador. Bybit said it plans to continue cooperating with regulators and obtaining the necessary permissions in its international markets. VARA’s role VARA launched in 2022 as one of the first standalone regulatory bodies designed exclusively for virtual assets. Its framework categorizes crypto firms into specific activity types (exchange services, broker-dealer services, lending, custody) and ...