Bybit obtained MiCA licensing approval from the Austrian Financial Supervisory Authority on May 29, signaling an expanded presence in the EU market. This move positions Bybit to effectively compete against local rival Bitpanda while also highlighting its commitment to regulatory compliance.
Despite the significant milestone, the market reaction remains muted. The CEO of Bybit, Ben Zhou, reaffirmed the company’s dedication to regulatory standards amidst potential concerns stemming from recent security issues.
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