Crypto exchange Bybit has received formal approval from Austria’s Financial Market Authority (FMA) to operate under the European Union’s Markets in Crypto-Assets Regulation (MiCA).
The license enables Bybit to legally offer crypto services across all 29 countries in the European Economic Area (EEA), representing a major strategic shift in how the platform approaches regulatory compliance and geographic expansion.
This approval places Bybit among a small but growing list of global exchanges aligning with Europe’s evolving regulatory framework as MiCA begins to take full effect in 2025.
In tandem with the MiCA license, Bybit has opened a new European headquarters in Vienna. The firm plans to scale up operations in Austria, committing to hire more than 100 employees. The new office will serve as its regional command center for EU market growth, compliance engagement, and product localization.
The Vienna expansion follows months of preparation by the exchange to solidify a regulatory base within the EU, particularly as post-MiCA enforcement standards begin to shape the competitive landscape. Unlike past industry expansions that skirted regulatory obligations, this move signals a direct effort to engage with formal compliance mechanisms and licensing structures.
MiCA: What the License Means in Practice
The MiCA regulation, finalized in 2023 and entering into phased enforcement starting in mid-2024, provides the first comprehensive legal framework for crypto assets across the EU. It introduces licensing requirements for stablecoin issuers, wallet providers, and trading platforms, with mandates covering capital reserves, AML/KYC obligations, and operational transparency.
By obtaining a MiCA license via Austria, Bybit now has “passporting” rights - allowing it to operate across the entire EEA without needing separate national authorizations in each country. This is a major regulatory advantage, given the fragmentation of compliance frameworks across Europe before MiCA.
From a business standpoint, it opens access to a unified market of nearly 500 million people under a common crypto rulebook. From a compliance standpoint, it brings Bybit under the oversight of European financial supervisors, including Austria’s FMA and the European Securities and Markets Authority (ESMA).
Bybit says it plans to make further investments in Austria beyond regulatory operations. According to statements from Mazurka Zeng, CEO of Bybit Europe, the firm will engage in ecosystem development, including educational initiatives and community collaborations.
This will reportedly be coordinated through its "Blockchain for Good Alliance" - an initiative that aims to build public–private partnerships with academic institutions and crypto advocacy groups. While the precise scope of the initiative in Austria remains to be seen, the move echoes efforts by other global exchanges to legitimize their presence through local engagement.
Market Conditions and Regulatory Realignment
The approval comes at a time when European regulators are tightening oversight on crypto platforms, and when access to compliant infrastructure is becoming a competitive necessity for global firms. Several countries - including France, Germany, and the Netherlands - are taking early steps to enforce MiCA’s provisions, especially those involving customer fund segregation, disclosures, and platform governance.
Bybit’s entry into the EU market with a MiCA license also follows increased scrutiny of non-compliant platforms. Multiple exchanges have faced enforcement actions in Europe for operating without appropriate licenses or failing to meet AML standards. In this context, licensed operations offer a layer of legal protection and reputational differentiation.
However, Bybit’s compliance strategy arrives just months after a major setback. Earlier in 2025, the platform experienced a security incident that triggered withdrawals totaling over $1.4 billion. Although Bybit has since taken steps to reinforce its cybersecurity infrastructure, the event raises questions about operational risk management that may come under further scrutiny as part of its regulatory oversight in Europe.
Parallel Expansion Efforts in Asia
While expanding its European presence, Bybit is simultaneously positioning itself in emerging Asian crypto markets. The company’s leadership recently held discussions with Vietnam’s Finance Ministry to explore the establishment of a national digital asset exchange and to contribute to local regulatory framework development.
Vietnam has emerged as one of the more proactive countries in Southeast Asia in exploring central bank digital currencies (CBDCs) and public-private collaboration in crypto regulation. Bybit’s involvement in this space signals a dual-track expansion approach: anchoring operations in highly regulated Western jurisdictions while engaging in policy co-development in emerging markets.
Bybit is not alone in its regulatory pivot toward Europe. A number of major exchanges - including Binance, Kraken, and Coinbase - are also racing to secure MiCA-related licenses and approvals before full enforcement deadlines hit in late 2025 and early 2026. Some have chosen France or Germany as their regional hubs, while others are adopting multi-jurisdictional compliance models.
Austria’s FMA has positioned itself as a responsive regulator willing to work with crypto firms that proactively seek compliance, and Bybit’s approval indicates the country may play a larger role in crypto licensing under MiCA than previously anticipated.
Final thoughts
Bybit’s MiCA license and Vienna headquarters are part of a broader transition in how crypto firms engage with national and regional regulators. Rather than treat compliance as a bottleneck, companies now see licensing as a prerequisite for market access and a hedge against future enforcement risks.
While challenges remain - from security to local regulatory alignment - MiCA represents a rare moment of regulatory clarity in the global crypto landscape. For platforms like Bybit, that clarity provides both opportunity and obligation as they attempt to scale across the continent under formal oversight.
How successful Bybit will be in executing its European growth strategy remains to be seen. But with MiCA as the playing field, the regulatory stakes - and barriers to entry - are rising fast.