Bybit securing a full operating licence in the UAE was a milestone with a twist most coverage missed: it came not from Dubai’s VARA but from the federal Securities and Commodities Authority (SCA). Here is what the licence covers, why the regulator matters, and where UAE crypto licensing stands in 2026.
Table of contents
- What Bybit was granted
- Why the SCA, not VARA
- What the licence means
- The UAE licensing landscape in 2026
- FAQ
What Bybit was granted
Crypto exchange Bybit was granted a full Virtual Asset Platform Operator licence by the Securities and Commodities Authority of the UAE. The final approval followed an in-principle approval issued eight months earlier — the same staged, prove-it-first pattern the UAE applies across its virtual asset regimes.
The licence permits Bybit to offer its complete suite of products and services across the UAE market, moving it from conditional entry to full operation.
Why the SCA, not VARA
This is the detail worth understanding. Dubai’s VARA regulates virtual assets within the Emirate of Dubai. The SCA is the federal regulator, with authority across the UAE outside the specific free zones and Dubai’s VARA perimeter. A firm’s choice of regulator shapes where and how it can operate.
Bybit taking the SCA route signalled an intent to operate at a UAE-wide federal level, not just within one emirate’s framework. For any operator, matching the licence to the intended footprint is a first-order decision, not a formality.
What the licence means
A full operator licence from a UAE federal regulator is a serious credential. It confirms a major global exchange chose regulated operation over an offshore workaround, and it reinforced the UAE’s standing as a jurisdiction the largest players will submit to supervision to enter.
The UAE licensing landscape in 2026
By 2026 the UAE has multiple, coordinated licensing paths: Dubai’s VARA (51 active licences as of July 2026), the federal SCA, the DFSA in the DIFC, and the FSRA in Abu Dhabi’s ADGM. The through-line is enforcement — 2025 completed the rulebooks and 2026 is the year they are supervised. For the full regional map, see our UAE crypto regulation guide.
Frequently asked questions
What licence did Bybit receive?
A full Virtual Asset Platform Operator licence from the UAE Securities and Commodities Authority (SCA), following an earlier in-principle approval.
Is the SCA the same as VARA?
No. VARA regulates virtual assets in the Emirate of Dubai; the SCA is the UAE’s federal securities and commodities regulator.
What can Bybit do with the licence?
It permits Bybit to offer its full suite of products and services across the UAE market.
How many crypto regulators does the UAE have?
Several coordinated ones, including VARA (Dubai), the SCA (federal), the DFSA (DIFC) and the FSRA (ADGM).
Sources: UAE Securities and Commodities Authority; company statements. Originally reported by Cryptonite; updated with 2026 context. Verify current licence status with the SCA.
Disclaimer: General information, not financial or legal advice.
