Bybit Exchange Receives MiCA License for EU Operations in Austria
Cryptocurrency exchange Bybit has secured a Market in Crypto Asset (MiCA) license from Austrian regulators, enabling it to operate as a regulated Crypto Asset Service Provider in the European Union.
Key Developments
- Bybit's MiCA license allows expansion across all 29 European Economic Area member states, reaching approximately 500 million potential users.
- The exchange has established its European headquarters in Vienna and plans to hire up to 100 employees to enhance local operations.
- Bybit aims to foster industry growth through its Blockchain for Good Alliance initiative by partnering with universities across Europe.
- Bybit emphasizes a compliance-first approach and seeks to collaborate with regulators globally to ensure high levels of regulatory assurance for its users.
Context on MiCA Licenses
- The MiCA framework became effective this year, prompting several crypto exchanges to secure licenses in the EU.
- OKX received a full MiCA license in February, allowing it to provide services across the EEA.
- eToro also secured a MiCA license from the Cyprus Securities and Exchange Commission (CySEC).
- Bybit previously obtained initial approval from the UAE’s Securities and Commodities Authority to operate as a virtual asset platform in the UAE.