Cryptocurrency: Always wanted to learn, here’s everything you need to know
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Dubai: Cryptocurrency exchanges Bybit and announced plans to set up operations in Dubai, as the emirate steps up efforts to attract companies in the fast-growing industry. said in a statement on Monday that it will set up a regional base in Dubai, and plans to establish a “significant” presence there. Bybit will move its global headquarters to the emirate, with operations starting as early as next month, after receiving in-principle approval to conduct a “full spectrum” of virtual-assets business in the UAE, it said in a blog post.

The exchanges join global rivals like Binance Holdings ltd and FTX in expanding in the UAE, which is seeking to develop a crypto-friendly reputation even as other financial centers tighten oversight. Singapore, where is based, earlier this year instructed crypto companies to refrain from consumer-facing marketing in a bid to limit speculation in digital assets.