UK Courts Bybit with FCA, Lords Meetings to Lure Crypto Firms Back from UAE

The UK government actively seeks to reverse the trend of crypto companies and capital migrating to the United Arab Emirates. This outreach coincides with UK Fintech Week and new Treasury plans to revamp payment systems using stablecoins and widespread tokenization. Bybit itself moved its headquarters to Dubai from Singapore in 2022.

UK economic development officials extended an invitation to Bybit's leadership for meetings in London this week. The objective is to emulate Dubai's established crypto momentum. Ben Zhou, Bybit's CEO, stated the UK expresses eagerness to invite large businesses to establish operations and generate employment.

Bybit currently ranks as the second-largest cryptocurrency exchange by CoinGecko, trailing only Binance, another major player that also established a presence in the UAE in 2025. The presence of such large exchanges often attracts smaller crypto firms, creating a broader industry ecosystem. Zhou's schedule includes discussions with the Financial Conduct Authority (FCA), the UK's financial regulator, and representatives from the House of Lords, part of the UK parliament.

This initiative signals the UK's intent to position itself as a significant hub for digital assets. The government recognizes that clear regulatory frameworks and a welcoming business environment are crucial to attracting top-tier firms. By inviting industry leaders like Bybit, the UK aims to kickstart the “magnet effect” observed in the UAE, where large exchanges draw a wider array of blockchain and crypto businesses. Watch for further announcements regarding new legislative frameworks for digital assets and potential shifts in corporate registrations.