Bybit Achieves Historic Regulatory Milestone with UAE’s First Full Crypto License
In a groundbreaking development for the cryptocurrency industry, Bybit has secured the United Arab Emirates' first full Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA). This landmark achievement represents a significant expansion of Bybit's regulatory footprint and marks a pivotal moment in the maturation of digital asset regulation in the Middle East. The comprehensive license enables Bybit to provide a complete suite of cryptocurrency services across the entire UAE mainland, including trading, custody, and fiat conversion capabilities. This regulatory approval extends beyond Dubai's existing VARA framework, positioning Bybit as the premier licensed cryptocurrency exchange in the region. The UAE continues to demonstrate its commitment to establishing itself as a global hub for digital asset innovation, with Bybit CEO Ben Zhou acknowledging the nation's leadership in developing progressive cryptocurrency regulations. This milestone not only strengthens Bybit's position in the global market but also signals the growing institutional acceptance of cryptocurrency platforms worldwide. The full licensing allows Bybit to offer enhanced security and regulatory compliance to users throughout the UAE, potentially setting a new standard for cryptocurrency exchange operations in emerging markets. As of October 2025, this development represents a significant step forward in bridging traditional financial systems with the digital asset ecosystem, providing Middle Eastern investors with regulated access to cryptocurrency markets through a trusted, fully licensed platform.
Bybit Secures UAE’s First Full Crypto License from SCA, Expanding Regulatory Footprint
Bybit has become the first cryptocurrency exchange to receive a full Virtual Asset Platform Operator License from the UAE's Securities and Commodities Authority. The regulatory milestone allows Bybit to offer trading, custody, and fiat conversion services across the UAE mainland, beyond Dubai's VARA framework.
"The UAE has emerged as a global leader in digital asset regulation," said Bybit CEO Ben Zhou, framing the approval as validation of the exchange's security protocols. The license positions Bybit to serve both retail and institutional clients under the SCA's comprehensive oversight.
This development marks a strategic expansion for the world's second-largest crypto exchange by volume, coming nearly three years after Dubai established its dedicated virtual assets regulator. The SCA's jurisdiction covers financial activities across seven emirates outside VARA's purview.
Bybit Wins Historic SCA License, Eyes Abu Dhabi as Regional Crypto Hub
Bybit has secured the UAE's first full Securities and Commodities Authority (SCA) VIRTUAL Asset Platform Operator License, marking a pivotal moment for the exchange and the region's crypto landscape. The approval, granted on October 9, 2025, enables Bybit to offer regulated trading, custody, and fiat conversion services under the UAE's federal framework, distinguishing it from Dubai's VARA regime.
The license culminates a rigorous review process that began with Bybit's In-Principle Approval in February 2025, supported by Abu Dhabi's Blockchain Centre. Regulatory scrutiny focused on security infrastructure, transparency, and compliance—a testament to the exchange's operational maturity.
Abu Dhabi emerges as a strategic focal point, with Bybit planning significant local expansion. The SCA's endorsement signals growing institutional confidence in virtual asset markets, potentially accelerating mainstream adoption across the Gulf.
Criminals and Their Networks Hold $75B in Crypto Assets, Says Chainalysis
Chainalysis' latest report reveals that illicit actors and their downstream networks now control approximately $75 billion in cryptocurrency assets acquired through illegal means. Darknet markets dominate these holdings, with participants accounting for $46.2 billion of the total—the largest single category of criminal crypto assets.
The findings highlight how early adoption by darknet platforms like Silk Road, combined with years of price appreciation, has created substantial on-chain value for criminal entities. Money laundering operations further complicate tracking efforts, as they serve as transit points for moving illicit funds across various blockchain infrastructures.
Notably, hackers face operational hurdles when attempting to liquidate large stolen amounts. The $1.5 billion Bybit hack linked to North Korea demonstrates the challenges of off-ramping significant sums without detection.
464.7 Million Dogecoin (DOGE) Moved Between Unknown Wallets Amid Market Volatility
A staggering 464.7 million Dogecoin (DOGE), valued at approximately $90.7 million, was transferred between unidentified wallets earlier today. The transaction, flagged by Whale Alert, underscores heightened activity in the meme-coin sector as DOGE prices swing violently.
Dogecoin traded NEAR $0.19 following a 25% intraday drop, with analysts noting a pattern of large withdrawals from exchanges like Bybit. Four prior transfers of 88 million DOGE each—totaling 352 million tokens—fuel speculation about whale accumulation or institutional repositioning.
Market observers are parsing two narratives: shrinking exchange liquidity that could signal future price pressure, and reactions to the launch of a U.S.-based dogecoin ETF product. Such opaque movements often exacerbate short-term volatility despite ambiguous intent.
