Bybit Obtains VARA License to Offer Spot Crypto Trading in Dubai

Bybit has secured a license from the Virtual Assets Regulatory Authority, Dubai's dedicated crypto oversight body, to offer spot trading services in the emirate. The approval allows the exchange to serve clients within VARA's jurisdiction under a formal regulatory structure rather than through offshore arrangements. VARA was established to bring virtual asset businesses operating in Dubai under a consistent licensing and compliance regime. The authority issues category-specific licenses covering activities such as spot trading, broker-dealer services, custody, and advisory work. A spot trading license typically requires an exchange to meet requirements around capital reserves, client asset segregation, and operational reporting.