The approval, granted to the local entity Bybit Fintech FZE, covers specific exchange services under the framework of the Virtual Assets Regulatory Authority. While the licence became active in the public register on June 20, 2026, the company formally announced the milestone on October 22. This status follows a two-year process that included provisional approval in 2024 and a separate national authorization from the Securities and Commodities Authority in 2025.
Despite the new clearance, the scope of operations remains restricted to spot markets. Bybit’s chief legal and compliance officer, Peter Loo, confirmed that the firm plans to seek separate, additional authorization for derivatives trading. Pursuing such products requires navigating more stringent requirements regarding margin, risk management, and client protections mandated by the local regulator. As the exchange continues to scale its presence, it faces a competitive landscape in Dubai, where other major players like Kraken have also recently secured full operating approvals.
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