In a twist worthy of a Dostoevskian plot, Bybit has danced its way into the embrace of the Markets in Crypto-Assets Regulation (MiCA) license, courtesy of Austria’s Financial Market Authority (FMA). This license is not just a piece of paper; it’s a golden ticket to the European market, where dreams of crypto riches await!
With this approval, Bybit EU, proudly flaunting its commercial number 636180i, is now a regulated crypto asset service provider (CASP). It’s like being handed the keys to a candy store, but instead of sweets, it’s all about digital gold across 29 European Economic Area member states. 🍬💰
As if that weren’t enough, Bybit has officially planted its flag in Vienna, Austria, as its European headquarters. A May 29 news release shared with CryptoMoon (yes, that’s a thing) confirmed this monumental step. Who knew crypto could be so… romantic? 🌹
This strategic move allows the platform to serve nearly 500 million Europeans under MiCA’s harmonized framework, which is designed to promote regulatory consistency, prevent illicit activity, and protect consumers. Because nothing says “trustworthy” like a regulatory framework, right? 😂
“Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit,” declared Ben Zhou, co-founder and CEO of Bybit, with all the gravitas of a Shakespearean hero. “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.”
Bybit to hire over 100 in Vienna
In a move that would make even the most ambitious of bureaucrats proud, Bybit plans to hire over 100 staff in Vienna to support its European operations. “Vienna is now the home of Bybit Europe,” proclaimed Mazurka Zeng, CEO of Bybit Europe, as if announcing the birth of a new nation:
“We’re proud to contribute to Austria’s forward-looking financial environment by investing in talent and innovation.”
The firm also has grand plans to collaborate with universities across the region through its Blockchain for Good Alliance (BGA) initiative. Because who doesn’t want to sprinkle a little blockchain magic in academia? 🎓✨
The MiCA framework became enforceable in early 2025, prompting crypto companies to establish regulated bases within the bloc to legally expand their services across borders. It’s like a game of Monopoly, but with real money and fewer plastic houses.
Bybit becomes second-largest exchange
Founded in 2018 and now basking in the sun of Dubai, Bybit has risen to the rank of the second-largest crypto exchange by trading volume, according to CoinMarketCap. The company made a dramatic relocation from Singapore to Dubai in 2022, proving that sometimes, you just need a change of scenery.
This regulatory win comes on the heels of a massive breach in February 2025, where Bybit lost a staggering $1.5 billion in assets. Yes, you read that right—making it the largest crypto theft on record. Talk about a plot twist! 😱
On May 9, German law enforcement seized 34 million euros ($38 million) in cryptocurrency from eXch, a platform allegedly used to launder funds stolen during the Bybit hack. It’s a tangled web of intrigue, theft, and regulatory drama that would make even the most seasoned detective raise an eyebrow.
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2025-05-29 14:57