May 29, 2025 – Bybit, one of the world’s largest cryptocurrency exchanges, has been granted a MiCA license in Austria, according to a recent update on the Austrian Financial Market Authority (FMA) website. The license enables Bybit to operate within the framework of Europe’s Markets in Crypto Assets (MiCA) regime, which came into effect at the start of 2025.
MiCA: Europe’s Digital Asset Regulatory Framework
The MiCA regulations aim to create a unified framework for digital asset services across the European Union’s 27 member states. With these rules now in place, cryptocurrency firms have been required to select a member state to base operations, allowing them to passport services across the entire trading block.
Austria is quickly becoming a hub for crypto firms seeking MiCA compliance. In addition to Bybit, Bitpanda, another major crypto trading firm, is also based in Austria and holds licenses in Germany.
Bybit’s Global Expansion
Founded in 2018 by entrepreneur Ben Zhou, Bybit has risen to become the second-largest exchange by trading volume, according to CoinMarketCap. The exchange, which initially operated out of Singapore, moved its headquarters to Dubai in 2022. The MiCA license marks another step in Bybit’s global expansion, as it continues to comply with international regulatory standards and broaden its operations in Europe.
Security Concerns and Recovery After Hack
Despite its regulatory progress, Bybit has faced challenges in recent months. In February 2025, the exchange was hit by a major hack, resulting in the loss of $1.5 billion in assets, marking the largest cryptocurrency theft on record. The company is actively working on security improvements and recovering from the incident.
A New Era for Crypto Firms in Europe
With the MiCA framework, Europe is positioning itself as a leader in regulating the cryptocurrency space. Bybit’s successful acquisition of the MiCA license in Austria highlights the growing importance of compliance for crypto exchanges operating in global markets.
This move is also expected to strengthen investor confidence in Bybit as it navigates the complex regulatory landscape of digital assets.
