According to CoinMeta, Bybit announced that its Dubai entity has obtained a license as a spot trading virtual asset service provider ( VASP ) from the UAE Virtual Assets Regulatory Authority ( VARA ), further expanding its local compliance exchange business. As per the announcement on October 21st, Bybit Fintech FZE received the trading service authorization four years after establishing its international headquarters. This approval marks a new step in the crypto exchange's expansion into the UAE market, allowing its local entity to carry out designated activities within the framework of VARA. The public license registration of VARA identifies Bybit Fintech FZE as an active VASP; the registration records show that the license was issued on June 20, 2026. Bybit, co-founder and CEO, stated that they will continue to cooperate with local authorities, and although this license only covers spot trading, Bybit plans to pursue additional authorization for derivatives.