According to CoinMeta, the crypto exchange Bybit has received the first full spot trading license issued by the Dubai Virtual Assets Regulatory Authority (Vara). This license authorizes Bybit to operate in Dubai, but the exchange must meet additional regulatory requirements before it can officially commence operations. Bybit stated that its previous preliminary approval from its Dubai entity Bybit Fintech FZE did not allow it to serve customers in Dubai. The public registration of Vara has now listed the new license as valid, permitting trading with retail, qualified, and institutional investors.