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By Ian Allison|Edited by Parikshit Mishra
May 29, 2025, 10:50 a.m.
- Austria is also the MiCA home base of crypto trading firm Bitpanda which also holds a licence in Germany.
- Europe’s new MiCA rules came into force at the start of this year.
Crypto exchange Bybit has been granted a license in Austria in compliance with Europe’s framework for dealing in digital assets, the Markets in Crypto Assets (MiCA) regime, according to the website of the local regulator FMA.
Europe’s new MiCA rules came into force at the start of this year, prompting firms to select the most appropriate member state to base operations and passport services across the 27-country trading block.
STORY CONTINUES BELOW
Austria is also the MiCA home base of crypto trading firm Bitpanda which also holds a licence in Germany.
Founded in 2018 by entrepreneur Ben Zhou, Bybit, which has risen to become the second largest exchange by volume according to CoinMarketCap, is based in Dubai having moved its headquarters from Singapore in 2022.
In February 2025, the exchange was hacked resulting in the loss of $1.5 billion in assets in the largest cryptocurrency theft on record.
Bybit did not immediately respond to requests for comment.
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
