Cryptocurrency exchange Bybit has successfully obtained in-principle approval from the Securities & Commodities Authority of the UAE to operate as a virtual asset platform.
Approval from SCA
Bybit has received in-principle approval to operate as a virtual asset platform operator from the UAE's Securities & Commodities Authority, with full operational licensing anticipated soon.
Significance of the Approval
The in-principle approval is a crucial step in Bybit's mission to provide a secure and stable platform for crypto traders. It underscores the company's commitment to upholding the highest regulatory standards.
Global Expansion of Bybit
Bybit continues to secure regulatory approvals worldwide, expanding its presence in key markets such as India, Georgia, Kazakhstan, and Turkey. This enables the company to broaden its reach while maintaining high security and compliance standards.
The in-principle approval in the UAE strengthens Bybit's position as a leading cryptocurrency exchange, aiding its expansion and supporting security and regulatory compliance standards.
