According to Cointelegraph, Bybit has secured the first full Dubai license authorizing it to provide spot trading services in the city. The exchange received its VARA licence, which permits operation under Dubai’s regulatory framework for crypto-related activities.
The license enables Bybit to offer spot trading services in Dubai; however, the company must still fulfill additional regulatory requirements before it can commence operations under the license. These remaining obligations are necessary to meet compliance standards set by local authorities.
This marks a significant milestone for Bybit in its expansion within the United Arab Emirates, reflecting progress toward full market authorization for spot trading activities in Dubai. The exchange’s ability to proceed with launching services depends on completing the specified regulatory steps outlined by regulators.
