The global cryptocurrency exchange Bybit has been granted a Markets in Crypto Assets (MiCA) license in Austria, marking a major step in its European expansion. The news was confirmed by the Austrian Financial Market Authority (FMA) via its official website.
What Is the MiCA License?
The MiCA (Markets in Crypto-Assets) framework is the European Union’s first comprehensive regulation governing crypto-assets, including trading platforms, stablecoins, and custodial services. It came into force at the start of 2025, creating a unified licensing regime across all 27 EU member states.
Under MiCA, firms licensed in one EU country can offer services across the entire region.
Why Austria?
Austria has quickly emerged as a regulatory hub under MiCA. It is already the European home base of Bitpanda, a crypto trading platform that also holds a license in Germany. Now, Bybit joins Austria’s growing crypto ecosystem, choosing the country for its strategic location and regulatory clarity.
Bybit’s Rise in the Crypto Market
Founded in 2018 by entrepreneur Ben Zhou, Bybit is currently the world’s second-largest crypto exchange by volume, according to CoinMarketCap. Originally based in Singapore, the company relocated its headquarters to Dubai in 2022 to benefit from a more crypto-friendly environment.
Bybit’s approval under MiCA gives it access to the entire EU market — a massive win for the exchange.
Security Setback: $1.5 Billion Hack
Despite its growth, Bybit faced a major challenge in February 2025, when it suffered the largest cryptocurrency theft in history, losing $1.5 billion in digital assets during a sophisticated hack.
The incident raised concerns about exchange security and user protection, though the company has since increased its cybersecurity protocols.
As of now, Bybit has not issued an official comment on its Austrian licensing.
What This Means for the Crypto Industry
Bybit’s MiCA license shows how crypto firms are adapting to regulation to build trust and expand legally in major markets. It also signals that Europe is becoming a key player in global crypto regulation, offering clarity and scalability for exchanges.
Conclusion:
Bybit’s entry into the MiCA-regulated zone underscores the growing importance of regulatory compliance in crypto’s future. With Europe setting the stage, other global exchanges may soon follow suit.