UAE unfair treatment?

[HeatBit]

Can someone please explain this to me ?

https://talkimg.com/images/2026/03/10/UkMnRo.jpeg

Are they saying that if you are from UAE and something goes wrong with your deposit on this exchange that you are on your own?

[fikrett]

Which exchange? And I don't think your topic belongs on BTC board itself.

[OmegaStarScream]

Can someone please explain this to me ?



Are they saying that if you are from UAE and something goes wrong with your deposit on this exchange that you are on your own?

Is this a an exchange based in the UAE? If so, it sound like it's a risk discolure for you to understand the risks and that the goverment cannot help you if anything goes wrong.

This does not mean that the exchange itself cannot have its own program to compensante for user's losses like Binance does for example.

[HeatBit]

Which exchange? And I don't think your topic belongs on BTC board itself.

The name of the exchange is Bybit and it's not based in UAE

[OmegaStarScream]

The name of the exchange is Bybit and it's not based in UAE

It's fully licensed in Dubai though and they do support AED local deposits. They're probably required by law to mention that (take BitOasis for example, an UAE based exchange... also has the same thing in their TOS: https://bitoasis.net/en/page/terms-of-service ).

I don't believe this means that the rest of the world is guaranteed anything in case of insolvency or breaches.

[FinneysTrueVision]

Which exchange? And I don't think your topic belongs on BTC board itself.

The name of the exchange is Bybit and it's not based in UAE

The terms and conditions page where this screenshot was taken specifically states that Bybit is incorporated in Abu Dhabi, United Arab Emirates.

There’s nothing unfair. Everybody’s deposit is treated equally. They are telling you what to expect, should they ever become insolvent.

[rat03gopoh]

Are they saying that if you are from UAE and something goes wrong with your deposit on this exchange that you are on your own?

Yes, your interpretation is basically correct.
And this isn't an exchange issue, but rather a condition inherent in licensing in the UAE. I noticed Binance also has a similar clause regarding crypto deposit protections, for example:

You acknowledge that neither the Client Virtual Assets nor Client Money held or controled by us  benefits from any form of deposit protection, other than as set out in sub-clause 9.2 below.

The most famous example: FTX.
When it collapsed, there was no government to reimburse users.

[sunsilk]

Which exchange? And I don't think your topic belongs on BTC board itself.

The name of the exchange is Bybit and it's not based in UAE

I think the other exchanges have this kind of rule for specific areas. I haven't reviewed bybit's policy before the war happens.

Maybe that can be a factor why there's this disclosure has been there. But even if it's already there before the war happens, they're only making you understand that crypto has nothing to do with the government's insurance policy and there's probably no rule there that deposits are not insured.

Unlike the other countries, they've got deposit insurance policies but I think this is only mostly for the banks.

And as explained by others, if they become insolvent, you have agreed that the government can't help you.

[Darker45]

Are they saying that if you are from UAE and something goes wrong with your deposit on this exchange that you are on your own?

Not only if you're from UAE but also, as stated, if you're from somewhere else. In other words, it applies to everybody regardless of where you're from. UAE is probably specified only because the service is based in UAE.

"Something goes wrong" could mean a lot of things. That your deposit isn't strictly insured or protected as mandated by a law like in the banks doesn't necessarily mean you're on your own whatever happens to it. Last year, Bybit fell to the largest theft ever recorded. $1.5 billion of users' funds were stolen. Bybit made a full refund.

Also, it doesn't mean the UAE and other jurisdictions don't have anything in place to protect users' funds.