What to know:
- Bybit hired former VARA legal head Peter Loo to lead global licensing and regulatory strategy.
- The hire signals crypto’s move to governance, reducing risk for investors and making compliance central for funds and developers.
- Bybit will likely pursue new licenses, better proof-of-reserves, and more institutional products.
Cryptocurrency exchange Bybit has announced that Peter Loo will become its head of legal and compliance. His appointment has brought a senior regulator on board who will spearhead the exchange’s global compliance strategies of the exchange. Loo has been at Dubai’s Virtual Assets Regulatory Authority VARA as its legal chief, which is one of the first crypto regulations in the world.
By the announcement, the crypto exchange will have its legal and compliance teams onshore as well as off-shore under the management of the new chief which will include licensing, regulatory compliance, and also dealing with regulators.
Compliance Amid Expansion
Loo was at VARA for a period when the regulator was responsible for drafting up Dubai’s Virtual Asset Law as well as overseeing licensing of exchanges and custodial services.
Source: Pinterest
A leading top 5 exchange based on the volume of trades within 24 hours, based on CoinMarketCap, Bybit has been actively developing its business in the Middle East, Europe, and Asia while rules are still changing here and there.
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From Growth to Governance
Hiring somebody from a regulatory background indicates, more than anything, a turning point on compliance for the crypto industry.
For investors and institutions that want to partner with regulated exchanges, this will reduce risk with counterparties a lot because they know that their counterpart in regulation is strong and capable of securing licenses in jurisdictions that have a legal system.
For developers and funds, compliance is now an element of operations that is getting the most attention because of their presence on larger exchanges.
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Industry Scenario and the Future
The move is in harmony with the general 2025, 2026 exchanges recruitment trend of hiring ex-regulators and public company executives. With MiCA being enforced in the EU and VARA being used to refine Dubai’s regime, a legal system of a very clear nature is becoming a feature and a factor that distinguishes the market players from each other.
Source: P2E Game
Bybit’s next moves likely will include getting new licenses, improving transparency about how reserves are proved, and widening the range of products targeting institutional clients.
Also Read: Russia Expands Crypto Mining Ban to Moscow Region From Aug. 15, 2026
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