Bybit Expands in Europe After Regulatory Milestone

Cryptocurrency exchange Bybit has received a pivotal green light from Austria’s Financial Market Authority (FMA), obtaining a license under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.

Bybit will now be able to offer its digital asset services in every EEA country following today’s approval. The MiCA registration allows Bybit to be part of one of the world’s most heavily regulated crypto spaces. The company has revealed that it is making Vienna its main hub in Europe and will hire over 100 local workers as it grows regionally.

Bybit Joins MiCA-Approved Crypto Platforms

“Receiving this license is more than a regulatory milestone it’s a commitment to building trust, transparency, and long-term sustainability in the crypto ecosystem,” said Mazurka Zeng, head of Bybit Europe. The company also invited universities to join the “Blockchain for Good Alliance,” which aims to increase knowledge about blockchain technology.

Bybit is the latest addition to the group of approved crypto companies according to MiCA, joining Kraken, OKX, Crypto.com, BBVA, and Clearstream. The new regulations in Europe are aimed at crypto companies, primarily for the sake of customer protection, compliance with AML laws, and clear operation.

Even with the new rules, the memory of the big security breach from February remains. The company’s systems were hacked, resulting in about $1.4 billion of digital assets being lost. Bybit’s tracking portal revealed that $644 million from the theft have not been found.

Experts say the attackers made use of Wasabi Wallet, Tornado Cash, Railgun, and CryptoMixer to remain anonymous. Thus far, $693 million have been found to be linked to the money laundering, of which $62.9 million have been frozen.

As a result of the incident, Bybit rewarded $2.3 million to 13 teams and people, including famous blockchain investigator ZachXBT, BitJungle, and Mantle Protocol. Ben Zhou, CEO of Bybit, points out the company is devoted to security reforms and has started seeking licenses in different countries. Zhou said:

“We are actively collaborating with regulators and pursuing licenses globally to ensure our users can access our innovative platform with the highest levels of regulatory and compliance assurance.”

Since securing the MiCA license, moving their headquarters to Europe and launching better security measures, Bybit is confident its future is secure in a closely monitored crypto space.