{"id":48303,"date":"2025-02-28T10:14:09","date_gmt":"2025-02-28T10:14:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bybit-secures-key-regulatory-approval-in-uae-in-the-midst-of-global-expansion\/"},"modified":"2025-02-28T10:14:09","modified_gmt":"2025-02-28T10:14:09","slug":"bybit-secures-key-regulatory-approval-in-uae-in-the-midst-of-global-expansion","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bybit-secures-key-regulatory-approval-in-uae-in-the-midst-of-global-expansion\/","title":{"rendered":"Bybit Secures Key Regulatory Approval in UAE In the midst of Global Expansion"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Bybit has made great progress in obtaining a UAE cryptocurrency exchange license. The company declared on February 28 that the Securities & Commodities Authority (SCA) of the United Arab Emirates has granted it in-principle license to function as a Virtual Asset Platform Operator. This approval, dated February 18, brings Bybit one step closer to providing digital asset services to regional institutional and retail clients.<\/p>\n

Despite the exchange\u2019s recent security compromise, in which hackers took advantage of its multisig cold wallet and caused a $1.5 billion loss, this regulatory milestone has been reached. Dubai\u2019s Virtual Assets Regulatory Authority (VARA) responded to the incident by telling Khaleej Times that it is still being closely monitored till things settle down.<\/p>\n

UAE Strengthens Its Crypto Leadership<\/h2>\n

Bybit\u2019s regulatory progress aligns with the UAE\u2019s growing reputation as a global cryptocurrency hub. The country continues to attract major crypto firms<\/a> by fostering a balanced regulatory framework that promotes innovation while ensuring investor protection.<\/p>\n

This approval follows Bybit\u2019s ongoing efforts to secure regulatory licenses in other key markets, including India, Georgia, Kazakhstan, and Turkey. Meanwhile, the UAE has been actively approving digital asset operations. On February 24, the Dubai Financial Services Authority (DFSA) officially recognized Circle\u2019s stablecoins, USDC and EURC, under its new token regime. Similarly, in April 2024, Crypto.com\u2019s Dubai-based entity, CRO DAX Middle East FZE, secured full operational approval from VARA, allowing it to offer services such as spot trading and staking brokerage.<\/p>\n

Looking ahead, VARA is introducing new transparency measures. The regulator plans to require crypto businesses to disclose major token holders, preventing market manipulation by identifying whether assets are concentrated among a few entities or venture capital firms. Additionally, new risk disclosure rules are under consideration to help investors better understand the assets they purchase.<\/p>\n

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Bybit\u2019s latest approval signals continued expansion in regulated markets, reinforcing the UAE\u2019s position as a leading crypto-friendly jurisdiction.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Bybit has made great progress in obtaining a UAE cryptocurrency exchange license. The company declared on February 28 that the Securities & Commodities Authority (SCA) of the United Arab Emirates has granted it in-principle license to function as a Virtual Asset Platform Operator. This approval, dated […]<\/p>\n","protected":false},"author":6,"featured_media":48304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48303"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=48303"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48303\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/48304"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=48303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=48303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=48303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}