Crypto exchange Bybit has received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework from Austria’s Financial Market Authority (FMA), according to a statement issued on May 29.
This license enables the platform to offer digital asset services across all 30 European Economic Area (EEA) countries.
Bybit plans to make Austria the hub of its European operations. The exchange will establish a permanent headquarters in Vienna and recruit over 100 local professionals.
According to the firm, the MiCA registration is a significant step in aligning with Europe’s stringent rules around consumer protection, transparency, and anti-money laundering.
Mazurka Zeng, head of Bybit Europe, said the company is also launching educational efforts through its Blockchain for Good Alliance. This initiative will support blockchain research and development in collaboration with universities.
With this approval, Bybit joins a small group of crypto firms already registered under MiCA. These include platforms like Kraken, OKX, and Crypto.com, as well as legacy financial institutions such as BBVA and Clearstream.
Meanwhile, Bybit’s CEO Ben Zhou said the company is also actively pursuing licenses in other jurisdictions. He added:
“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.”
Bybit’s security breach
While the license strengthens Bybit’s position in Europe, the exchange is still grappling with the fallout of a massive February security breach that resulted in $1.4 billion in losses.
According to a dedicated portal launched by the exchange to track the stolen funds, about $644 million, nearly 46% of the stolen assets, remains untraceable.
The investigations revealed that the attackers used advanced obfuscation tools such as Wasabi Wallet, Tornado Cash, Railgun, and CryptoMixer to cover their tracks.
The bulk of the laundered funds, around $247 million, passed through Wasabi Wallet, while $94 million flowed through CryptoMixer.
However, the exchange has said that the remaining $693 million of the stolen funds is traceable and $62.9 million has already been frozen.
In response to the breach, Bybit has awarded $2.3 million bounties to 13 individuals and groups, including blockchain sleuth ZachXBT, BitJungle, and Mantle protocol.
The post Bybit earns MiCA license as hackers keep $644M from its $1.4B exploit out of reach appeared first on CryptoSlate.
