On May 29, Bybit reached a major regulatory milestone, becoming one of the first cryptocurrency exchanges to secure compliance under the European Union’s new Markets in Crypto-Assets (MiCA) regulation. According to the Financial Market Authority of Austria, Bybit is now officially listed as a crypto-asset service provider, marking a significant step forward in its global compliance strategy.
MiCA Compliance Opens Doors Across the EU
The license allows Bybit to operate and offer its services across all EU member states, streamlining the exchange’s presence under a unified regulatory framework. The MiCA regulation, which aims to bring clarity and oversight to the European crypto market, mandates that all crypto-asset service providers including exchanges and wallet services register with financial authorities in at least one EU country.
To comply, providers must adhere to strict security protocols, risk management procedures, and anti-money laundering (AML) standards. MiCA also sets firm guidelines for stablecoins, requiring them to maintain sufficient reserves and undergo full disclosure.
This new status positions Bybit not only as a trailblazer among global exchanges, but also as a strategic player within Europe’s regulated crypto economy.
A Broader Global Push for Compliance
This move is the latest in a series of regulatory efforts by Bybit. Back in February, the French regulator AMF removed Bybit from its national blacklist, indicating early steps toward EU compliance. CEO Ben Zhou confirmed at the time that the exchange was actively pursuing a MiCA license.
Earlier this year, Bybit also registered with Indian financial authorities following the settlement of a $1 million compliance fine, further demonstrating its intent to meet regulatory requirements across jurisdictions.
Setback: The $1.4 Billion Hack
However, Bybit’s progress hasn’t come without setbacks. The exchange suffered a record-breaking $1.4 billion hack, attributed to North Korean cybercriminals. Although user funds were reportedly protected, a significant portion of the stolen assets remains unrecovered. As of May 27, reports suggest nearly half of the funds are now untraceable, casting a shadow over Bybit’s otherwise robust regulatory push.
Looking Ahead
Despite security concerns, Bybit’s successful MiCA registration reflects a growing maturity in the crypto industry, where major platforms are recognizing the need for strong regulatory alignment. As MiCA becomes the new standard for Europe, exchanges that comply early may gain a significant edge in user trust and operational flexibility.
For investors and companies watching MiCA unfold, Bybit’s path offers a glimpse into how compliance, regulation, and innovation can co-exist in the next phase of global crypto adoption.
