Bybit Secures MiCA License for EU Expansion

Bybit, a prominent global cryptocurrency exchange, has secured a MiCA license from the Austrian Financial Market Authority (FMA). This approval, effective from early 2025, allows Bybit to offer crypto-related services across all 27 EU nations, with Austria serving as its primary European hub. The MiCA regulation, set to be implemented by the European Union, mandates this approval for cryptocurrency operations, marking a significant milestone for Bybit's expansion into regulated markets.

Bybit announced this development through its official X account, highlighting that the license enables it to operate across the European Economic Area (EEA) under a unified regulatory framework. This move positions Bybit to serve approximately 500 million customers throughout Europe, aligning with its global strategy to expand into regulated countries. The company, previously based in Dubai, is now establishing its European presence in Vienna, Austria, where it will face competition from Bitpanda, another major crypto platform in the region.

Ben Zhou, Bybit’s CEO, emphasized that regulatory compliance is a top priority for the company. The MiCA certification underscores Bybit's commitment to adhering to global financial principles and collaborating with regulators worldwide to ensure user security. This regulatory approval is particularly timely for Bybit, which suffered a significant security breach in February 2025, resulting in the loss of $1.5 billion in digital assets. The incident raised concerns about the platform's security and trustworthiness, making the MiCA license a crucial step in rebuilding user confidence.

In addition to securing the MiCA license, Bybit plans to invest substantially in Austria. The company announced that it will hire over 100 professionals in Vienna to support its European operations. This recruitment drive is expected to boost local employment and further integrate Austria into the cryptocurrency and financial technology sectors. Bybit's commitment to local hiring and investment demonstrates its dedication to serving European customers with tailored services.

The MiCA regulation focuses on protecting crypto users and promoting transparency within the industry. Key aspects of the regulation include anti-money laundering measures, data security, and consumer rights protection. By adhering to these standards, Bybit aims to regain the trust of its users and demonstrate its commitment to safety and regulatory compliance. The MiCA license is expected to alleviate doubts about Bybit's security and reinforce its dedication to user protection.

Karen Wong, Bybit’s CEO in Europe, expressed the company's enthusiasm for contributing to Austria's innovative ecosystem. Bybit plans to attract skilled workers, collaborate with universities, and participate in initiatives like the Blockchain for Good Alliance. These efforts aim to make blockchain education more accessible and support innovative projects, further solidifying Bybit's presence in the European market.

Overall, the MiCA license provides Bybit with more than just regulatory benefits. It enhances the company's footprint in Europe, strengthens its compliance record, and positions it to compete globally in the cryptocurrency sector. This strategic move underscores Bybit's commitment to growth and regulatory adherence, setting the stage for future expansion and innovation in the European market.