Crypto exchange Bybit has received official approval to operate in Austria under the European Union’s Markets in Crypto Assets (MiCA) framework. This regulatory move positions Austria as a growing hub for digital asset firms seeking clarity and access across the EU.

The new MiCA rules came into effect at the beginning of the year and allow licensed firms to provide services across all 27 EU member states. Austria is already home to Bitpanda a major crypto trading platform that also holds a license in Germany. Bybit’s entry strengthens the country’s crypto presence further.

Bybit was founded in 2018 by entrepreneur Ben Zhou and is now the second largest exchange by trading volume according to CoinMarketCap. Originally based in Singapore the company relocated its headquarters to Dubai in 2022. In February 2025 the exchange suffered a major hack losing $1.5 billion in digital assets marking the largest crypto theft to date. Despite this setback Bybit continues to expand under global regulatory frameworks.