Summary
- Bybit has announced that it has obtained a MiCA license from the Financial Supervisory Service of Austria.
- With this license acquisition, Bybit stated that it has established a foundation for expanding its services across the 27 EU countries.
- Notably, Bybit experienced a hacking incident of about $1.5 billion this year, drawing attention to security issues.
Global virtual asset (cryptocurrency) exchange Bybit has officially obtained a license from the Financial Supervisory Service of Austria in accordance with MiCA (Markets in Crypto Assets), the European Union (EU)'s digital asset regulatory framework.
On the 29th, cryptocurrency-specialized media outlet CoinDesk reported, "According to the official website of Austria's Financial Supervisory Service (FMA), Bybit has acquired a digital asset trading authorization compliant with MiCA, thereby establishing the foundation to expand its services to all 27 EU countries through a passporting approach."
The MiCA law is the world's first comprehensive cryptocurrency regulation, established by the European Union (EU), and is binding on the 27 EU member states.
Bybit was founded in 2018 by CEO Ben Zhou and relocated its headquarters from Singapore to Dubai in 2022. Currently, Bybit is considered the world's second-largest exchange by trading volume.
Meanwhile, Bybit experienced a hacking incident involving approximately $1.5 billion in February this year. This stands as one of the largest virtual asset exchange security breaches on record.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
