Update
Bybit Secures VASP License for Spot Crypto Trading in Dubai
Bybit, a cryptocurrency exchange, has announced that its Dubai entity, Bybit Fintech FZE, has received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) for spot crypto trading. The license also covers plans for derivatives trading, which are subject to further regulatory approval. Bybit’s chief legal and compliance officer, Peter Loo, stated that the company aims to expand its licensed activities to include derivatives through the required regulatory process. The company has previously opened its international headquarters in Dubai and has been involved in blockchain and Web3 partnerships, industry engagement, and knowledge sharing initiatives.