Bybit announced on October 22 that its Dubai entity, Bybit Fintech FZE, had secured a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA), covering spot crypto trading. Bybit established its international headquarters in Dubai in 2022 and received in-principle approval in 2024. Other exchanges holding VARA licenses include Binance, OKX, Gate and Backpack.