The cryptocurrency exchange Bybit has achieved a major regulatory milestone by securing a Markets in Crypto-Assets (MiCA) license from the Austrian Financial Market Authority (FMA). This landmark approval allows Bybit to legally operate across all 29 European Economic Area (EEA) member states, marking a pivotal step in its European expansion strategy. Alongside the licensing success, Bybit officially launched its new European headquarters in Vienna—set to become a hub for compliance, innovation, and regional growth.
With this development, Bybit positions itself as one of the first major global crypto platforms to fully align with the EU’s comprehensive MiCA framework. The regulation establishes strict standards for transparency, consumer protection, cybersecurity, and financial stability—requirements that Bybit is now meeting through its Austrian entity, registered under commercial number 636180i.
Expanding Across Europe Under MiCA Compliance
The MiCA license grants Bybit the authority to offer a full suite of crypto-asset services—including trading, custody, and staking—to both retail and institutional users throughout the EEA. This access opens doors to a market of nearly 500 million potential users, reinforcing Bybit’s commitment to regulated, sustainable growth.
Under MiCA rules, licensed firms must maintain adequate capital reserves, implement robust risk management systems, adhere to anti-money laundering (AML) protocols, and ensure full disclosure of asset holdings—especially for stablecoins. Bybit’s compliance with these standards underscores its transition from a decentralized offshore exchange to a transparent, regulated financial service provider.
Austria’s progressive stance on digital assets has made it an attractive jurisdiction for crypto innovation. Alongside local player Bitpanda, Bybit is now among the first exchanges operating under MiCA in the country—solidifying Austria’s reputation as a forward-thinking hub for blockchain regulation in Europe.
👉 Discover how leading crypto platforms are adapting to new EU regulations.
Vienna HQ: A Strategic Base for European Growth
Bybit’s new European headquarters in Vienna will serve as the central command for its regional operations. The office will focus on three core objectives: regulatory coordination, user protection, and talent development.
To support these goals, Bybit plans to hire over 100 professionals locally, spanning roles in compliance, engineering, customer support, and legal affairs. The company emphasizes investing in local expertise to build stronger ties with European regulators and communities.
Additionally, Bybit is expanding its Blockchain for Good Alliance initiative in partnership with European universities. These collaborations aim to promote blockchain literacy, fund academic research, and support student-led projects in Web3 and decentralized technologies—fostering long-term innovation rooted in education and public benefit.
This strategic move follows Bybit’s removal from France’s financial watchdog AMF’s warning list in early 2025—an outcome attributed to improved transparency and proactive engagement with regulatory bodies across multiple jurisdictions.
Addressing Security Challenges: The February 2025 Hack
Despite its regulatory progress, Bybit continues to manage the aftermath of a major security breach in February 2025. The incident, widely regarded as the largest cryptocurrency theft in history, resulted in the loss of approximately $1.5 billion worth of digital assets.
Investigations point to the North Korean-linked hacking group Lazarus Group as the prime suspect. Blockchain analysts, including on-chain sleuth zachxbt, have traced transaction patterns consistent with previous state-sponsored attacks. While some funds were moved through complex laundering networks, nearly half remain untraceable as of May 27.
In a positive development, German authorities seized €34 million in illicit proceeds on May 9 from a third-party platform used to obscure the stolen funds. This action highlights growing international cooperation in tracking and recovering crypto-related crime proceeds.
Importantly, Bybit confirmed that user accounts were not compromised during the attack. The breach occurred at the institutional custody level, and the company has since reinforced its security infrastructure with enhanced monitoring, multi-layered defenses, and expanded insurance coverage.
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Frequently Asked Questions (FAQ)
Q: What is MiCA and why does it matter for Bybit?
A: MiCA (Markets in Crypto-Assets) is the European Union’s first comprehensive regulatory framework for digital assets. For Bybit, obtaining a MiCA license means it can legally offer crypto services across all EEA countries—boosting credibility, user trust, and market reach.
Q: Is Bybit safe after the 2025 hack?
A: While the $1.5 billion breach was significant, no user funds were lost. Bybit has since upgraded its security protocols, increased insurance coverage, and strengthened internal controls. Ongoing collaboration with law enforcement also improves response readiness.
Q: Where is Bybit headquartered now?
A: Bybit relocated its global headquarters from Singapore to Dubai in 2022. Its new European base is in Vienna, Austria—supporting regional compliance and expansion efforts under MiCA.
Q: How many jobs will Bybit create in Vienna?
A: The company plans to hire more than 100 employees in Vienna for roles in compliance, technology, customer service, and legal operations—contributing to Austria’s growing fintech ecosystem.
Q: Can I use Bybit in my European country?
A: Yes—once fully rolled out under its Austrian MiCA license, Bybit will be authorized to serve users in all 29 EEA member states, including Germany, France, Italy, and others.
Q: Who is behind the Bybit hack?
A: Evidence suggests involvement by the Lazarus Group, a hacker collective linked to North Korea. Authorities continue tracking fund movements and pursuing recovery options internationally.
Looking Ahead: Compliance as Competitive Advantage
Bybit’s journey reflects a broader industry shift—from unregulated frontier platforms to institutions prioritizing legal alignment and user safety. Securing a MiCA license isn’t just about market access; it’s about building long-term trust in an era where regulatory scrutiny is intensifying globally.
As more countries adopt frameworks similar to MiCA, exchanges that invest early in compliance will gain a decisive edge. Bybit’s Vienna launch symbolizes more than geographic expansion—it represents a commitment to responsible innovation.
👉 See how compliant exchanges are shaping the future of crypto.
Founded in 2018, Bybit has risen to become the second-largest cryptocurrency exchange by trading volume (per CoinMarketCap), proving that scale and regulation can coexist. With its EU ambitions now firmly underway, the platform is poised to play a central role in Europe’s evolving digital economy.