Bybit announced on Monday that the access to its Bybit Global platform will start receeding from the European region now that EU’s MiCA guidelines are coming into full effect on July 1. The announcement does not mean that the exchange is exiting the region. Instead, it just implies that the platform’s MiCA compliant unit called Bybit EU will be taking charge of its operations in the European Economic Area (EEA).
MiCA or the Markets in Crypto-Assets Regulation is a comprehensive crypto-focussed regulations in the EU that bring bank-like laws for the crypto businesses. On July 1, the deadline for crypto firms to comply with these rules is culminating and platforms not in compliance will have to exit the 27-country-region.
Aligning with EU’s instructions, Bybit said it will start limiting certain services on Bybit Global for EEA residents.
“Prior to any measures being implemented, affected users will receive clear communications outlining the timelines for managing both existing and new positions,” the exchange said in its blog. “With the purpose of allowing users to remediate these positions and balances, you will retain access to your assets custodied in your account.”
Bybit EU was launched on July 1, 2025. Headquartered in Vienna, the platform claims to be catering to over 450 million users across the EEA. It had acquired its MiCA license from Austria.
On Thursday, Bybit co-founder and CEO Ben Zhou posted that this EU-focussed platforms will be the one-stop destination for its userbase in the Europe to access crypto services from.
Claudia W., the head of Bybit’s content strategies also chimed into the conversation to claim that Bybit EU was one of the first exchanges in the EU to have secured the MiCA license.
The Dubai-headquartered exchange has advised users to only rely on official communication channels for further communations.
“Bybit EU is pursuing additional licensing in Austria to cover a broader product spectrum,” the exchange noted.
Ahead of the MiCA compliance deadline, EU nations have started asking non-compliant crypto firms to prepare for a market exit. Spain’s financial regulators have told crypto firms that there would be no exceptions or extensions for companies that have not received their MiCA authorizations.
MiCA was finalized by the European regulators between May and June 2023.and it went live in June 2024. Crypto firms in the EU were granted a 18-month period f to comply with the guidelines.
Binance, touted among the largest crypto exchanges in the world, could not complete its MiCA registration process in time. The exchange will now be halting its services in the EU for the time being.
Crypto firms found not adhereing to the MiCA rules in the EU would be subject to harsh consequence including massive fines of up to EUR 5 million or upto 12 percent of their global annual revenue.
