Bybit has received a Markets in Crypto-Assets Regulation (MiCAR) license from the Austrian Financial Market Authority (FMA). It allows the cryptocurrency exchange to operate as a regulated crypto-asset services provider within the European Economic Area (EEA).

The license enables Bybit to offer its products and services to users across 29 EEA countries. They will be provided through its regional hub based in Austria. Bybit has also opened its European headquarters in Vienna.

Bybit Expands with European Regulatory Approval

“Securing the MiCAR license in Austria is a testament to our compliance-first approach at Bybit,” stated Ben Zhou, co-founder and CEO of Bybit.

MiCAR is part of the European Union’s effort to regulate digital financial services. The license requires companies to meet rules related to consumer protection, transparency, and the prevention of illegal activities.

“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,” Zhou added.

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Supporting Blockchain Education and Practical Development

Bybit said it will invest in its operations in Austria. The company plans to hire more than 100 employees in Vienna. This will support its goal to offer services that comply with local regulations.

“We are dedicated to fostering a strong local crypto community and, through the Blockchain for Good Alliance (BGA), we will extend our resources to work closely with universities across the region, cultivating the next generation of blockchain innovators and exploring impactful real-world applications of the technology,” Mazurka Zeng, Chief Executive Officer of Bybit Europe commented.