Bybit Snags UAE’s Virtual Asset Platform Operator License

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has secured a Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE), the exchange said on Thursday. Bybit becomes the first crypto exchange to obtain this full license from the SCA, the company said in a press statement. A number of crypto firms with operations in Dubai are regulated under the VARA framework. The SCA regulation is wider in scope as it applie ...