The Virtual Asset Regulatory Authority (VARA) has issued a provisional crypto license to Bybit. This license does not permit Bybit to operate fully but allows them to initiate their presence in Dubai.
The license enables Bybit to serve both retail and institutional crypto investors in the region. It marks a significant milestone for Bybit as they expand their footprint in the Middle East.
Dubai aims to become a central hub for cryptocurrencies, and VARA's move to grant licenses to companies like Bybit underscores this vision.
