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Bybit receives in-principle approval to conduct virtual assets business in Dubai

Wednesday 30 March 2022 13:47 CET | News

Cryptocurrency exchange business Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai.

Bybit also announced that it plans to set up its global headquarters in Dubai, offering a full suite of products and services globally, under the Emirate’s ‘test-adapt-scale’ virtual assets market model.

Bybit is committed to supporting the regulatory efforts of the UAE government and is looking to share its industry knowledge, experience, and insights with all stakeholders. Bybit aims to educate retail investors and the wider public in how to use virtual assets in a safe and responsible manner, helping the UAE manage risks within a framework for responsible growth.

Bybit’s new headquarters office is expected to commence operations in as early as April 2022, and it has started the process of hiring talent and transferring existing teams and operations to their new office.

The UAE’s new Dubai Virtual Asset Regulation Law was announced earlier in March 2022. It aims to establish a regulatory framework for the sector designed to boost the industry providing robust guardrails that protect investors, facilitate cross-border transparency, and assure global market integrity

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Keywords: cryptocurrency, cryptocurrency exchange, digital assets, expansion, regulation
Categories: DeFi & Crypto & Web3
Companies:
Countries: United Arab Emirates
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DeFi & Crypto & Web3






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