Bybit Secures MiCA License, Expanding Operations in EU/Austria
Cryptocurrency exchange Bybit has successfully obtained a Markets in Crypto Assets (MiCA) license in Austria, as confirmed by the Austrian Financial Market Authority (FMA). News of this regulatory approval surfaced on May 29, 2025, allowing Bybit to operate legally and in full compliance with the European Union's comprehensive framework for digital assets. This development marks a significant milestone for Bybit in its efforts to expand its services securely within the European crypto market.
The MiCA regulation, which came into effect at the beginning of 2025, is designed to establish clear standards and enhance stability across the crypto market in the 27-country European trading bloc. Under MiCA, crypto firms are selecting appropriate member states to base their operations and passport their services throughout the EU. Austria is emerging as a notable hub for such activities, also serving as the MiCA home base for crypto trading firm Bitpanda, which holds a license there and in Germany.
Founded in 2018 by entrepreneur Ben Zhou, Bybit has grown to become a major player in the cryptocurrency exchange landscape. According to CoinMarketCap, it ranks as the second largest exchange by trading volume. The company is currently headquartered in Dubai, having relocated from Singapore in 2022.
Despite its growth, Bybit faced a significant challenge earlier in the year. In February 2025, the exchange experienced a major security breach, resulting in the theft of $1.5 billion in assets, which stands as the largest cryptocurrency theft recorded to date. At the time of the licensing news, Bybit had not immediately responded to requests for comment on this development.
The acquisition of the MiCA license in Austria is a crucial step for Bybit, reinforcing its commitment to regulatory compliance and positioning it for further growth and the provision of secure crypto services across Europe. This move aligns with the broader trend of crypto companies seeking regulatory clarity and legitimacy within established financial frameworks.
