Bybit, one of the world’s leading cryptocurrency exchanges, has officially secured regulatory approval to operate in Austria under the European Union’s Markets in Crypto Assets (MiCA) framework. This marks a significant step in the exchange’s expansion across Europe and reinforces Austria’s growing reputation as a crypto-friendly hub within the EU.
What MiCA Means for Bybit and Crypto in the EU
The MiCA framework, which came into effect at the start of 2025, establishes a unified regulatory standard for digital asset firms across all 27 EU member states. With a MiCA license, companies like Bybit can now provide crypto services across the entire European Union without needing separate approvals in each country.
This level of regulatory clarity is expected to attract more global crypto players to the region, creating a more secure and integrated digital asset market. Austria, already home to Bitpanda—a major trading platform that also holds a license in Germany—continues to solidify its position as a key destination for regulated crypto activity in Europe.
Bybit’s Growth Amid Challenges
Founded in 2018 by entrepreneur Ben Zhou, Bybit quickly rose to become the second-largest crypto exchange by trading volume, according to CoinMarketCap. Originally headquartered in Singapore, the company moved its base to Dubai in 2022 to align with favorable crypto regulations.
In February 2025, Bybit faced a major setback when it suffered a security breach resulting in the loss of $1.5 billion in digital assets—making it the largest crypto hack on record. Despite this significant event, the exchange has remained resilient, continuing to grow and comply with evolving global regulations.
By securing its MiCA license in Austria, Bybit signals its commitment to operating within transparent legal frameworks while expanding access to European users. This move not only benefits Bybit’s long-term strategy but also boosts Austria’s standing as a regulated environment for digital finance innovation.
