- Bybit gains MiCA license in Austria for EU market access.
- Increased EU market presence for Bybit.
- Potential market competitiveness against Bitpanda.
Bybit, a cryptocurrency exchange headquartered in Dubai, received approval from the Austrian Financial Supervisory Authority on May 29, securing an operating license under MiCA.
The license permits extended operations across the EU, highlighting Bybit’s dedication to regulatory compliance and expanding its presence. Crypto Exchange Bybit Granted MiCA License in Austria is anticipated to strengthen Bybit’s position against competitors like Bitpanda.
Bybit’s EU Expansion: License Impact and Market Dynamics
Bybit, a prominent crypto exchange, has been approved by the Austrian Financial Supervisory Authority under the MiCA framework, allowing it to operate in the EU. This approval positions Bybit alongside Bitpanda, its notable competitor also registered in Austria.
The immediate impact of this license is significant as Bybit can now leverage its EU market reach. This opens more opportunities for expansion across all member states under a unified regulatory framework.
Ben Zhou, CEO, Bybit, “Our commitment to regulatory compliance is stronger than ever as we enter the European market with this MiCA approval.”
Although the license marks a breakthrough for Bybit, current market reactions remain unvoiced. With no statements from industry leaders, the focus may shift to the security measures following February’s noteworthy security breach.
MiCA’s Role in Crypto Regulation and Bybit’s Future
Did you know? In 2023, MiCA’s introduction aimed to streamline crypto regulations across Europe. Bybit’s recent licensing under MiCA highlights an increasing trend towards regulatory harmonization in the EU.
According to CoinMarketCap, Bitcoin (BTC) currently trades at $108,881.04 with a market cap of 2.16 trillion. The 24-hour trading volume is monitored at $52.59 billion, a 1.50% increase. The past 90 days show a gain of 35.65%. [Updated as of May 29, 2025]
The Coincu research team highlights that Bybit’s expansion into the EU under MiCA could fortify its market credibility. Enhanced regulatory compliance may lead to greater investor confidence, especially post the recent security incident.
Source: https://coincu.com/340477-bybit-mica-license-austria-eu/