Bybit Gains MiCA License Amid Security Breach Fallout

Bybit, a Dubai-based crypto exchange, has secured a Markets in Crypto-Assets Regulation (MiCA) license from Austria’s Financial Market Authority, enabling it to provide regulated digital asset services across all European Economic Area countries. The company will establish its European headquarters in Vienna, creating over 100 local jobs and partnering with universities through its Blockchain for Good Alliance to advance blockchain research and education. Bybit joins a select group of exchanges compliant with MiCA’s unified regulatory standards, aimed at improving consumer protection, transparency, and anti-money laundering measures. The license comes as MiCA is set to become enforceable in early 2025, prompting crypto firms to ensure compliance for cross-border operations. Meanwhile, Bybit continues to address the fallout from a major security breach in February 2025, with $644 million of the $1.4-1.5 billion stolen assets still unaccounted for due to sophisticated laundering methods. Bybit’s CEO highlights ongoing engagement with global regulators to enhance user protections.