According to CoinMeta, Bybit announced today that Bybit Fintech FZE has successfully obtained a Virtual Assets Service Provider (VASP) license issued by the Dubai Virtual Assets Regulatory Authority (DVAA). The scope of this license includes exchange services (spot trading). This license represents an important milestone for Bybit's development in Dubai, where the company established its international headquarters in 2022. Bybit, co-founder and CEO of Bybit Fintech FZE, stated that Dubai has made significant progress in establishing a regulatory environment for virtual assets, and Bybit Fintech FZE looks forward to continuing to grow deeply in Dubai, supporting the local digital asset community, and developing its business in strict accordance with the standards set by VARA. Bybit, Chief Legal and Compliance Officer of Bybit Fintech FZE, noted that obtaining this license is an important step forward and highly praised VARA for their work in establishing a clear and robust regulatory framework for virtual assets. As business in Dubai continues to grow, Bybit looks forward to maintaining close cooperation with VARA and hopes to expand the scope of licensed services to include derivatives trading in the future.