Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has obtained a Markets in Crypto-Assets Regulation (MiCA) license from Austria's Financial Market Authority (FMA). This regulatory approval allows Bybit EU to operate as a regulated crypto asset service provider (CASP) and expand its services across all 29 European Economic Area (EEA) member states.
As part of its European expansion, Bybit has officially established its headquarters in Vienna, Austria. The move supports the platform’s ability to serve nearly 500 million Europeans under the harmonized MiCA framework, which aims to ensure regulatory consistency, prevent illicit activities, and protect consumers.
Bybit plans to hire over 100 staff members in Vienna to support localized crypto services aligned with EU regulations and engage with regional universities through its Blockchain for Good Alliance (BGA) initiative to promote blockchain technology.
The MiCA regulation came into effect in early 2025, prompting crypto firms like Bybit to establish compliant bases within the EU for cross-border service expansion. Founded in 2018 and headquartered in Dubai since 2022, Bybit is actively pursuing global licenses to ensure users benefit from high regulatory and compliance standards.
This regulatory milestone follows Bybit’s major setback in February 2025, when the exchange suffered a $1.5 billion hack—the largest cryptocurrency theft on record. Notably, German authorities recently seized $38 million in stolen funds linked to the breach. Bybit’s strategic compliance efforts aim to strengthen its position and trust in the European market.