Bybit Chief Legal and Compliance Officer Peter Loo stated that Bybit plans to pursue separate VARA regulatory approvals to introduce cryptocurrency derivatives trading in Dubai.

Futures, options, and perpetual swaps tied to digital-asset prices, letting traders hedge or lever positions and often dwarfing spot volumes.

Licensing, custody, and market-conduct rules for platforms where people trade digital assets, shaped by collapses like FTX and jurisdictional disputes between regulators.