We break down why Bybit made this decision and what European clients should do next.
Crypto exchange Bybit has announced a phased restriction of access to its global platform for residents of the European Economic Area.
Hot topic: Bitcoin Treasuries Buying Fails to Offset Selling, Glassnode Says
The changes come as the MiCA transitional period ends on July 1, 2026. Before the restrictions take effect, users will receive instructions on managing open positions, transferring funds, and migrating to a European regulated platform.
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The Move to Bybit EU: MiCA License and a Separate Account
EU users already have access to Bybit EU, a separate platform licensed in Austria under MiCAR. The company is based in Vienna and serves clients across the EEA, except Malta.
Bybit EU offers custody and management of crypto assets, exchange services between crypto and fiat or other digital assets, and transfer services. A separate account is required to use the platform.
To attract new users, Bybit EU has launched a “Move Your Funds, Get Rewarded” campaign running through July 31, 2026. New EEA users can receive three types of bonuses:
- Welcome package from €20, card bonuses up to €120, and 100% cashback on subscriptions in the first month
- Accelerated VIP status, 30 to 90 days, with a deposit of $100 or more
- 3% annual USDC cashback on deposits of $50K or more, capped at $30K over 12 months
Bybit EU CEO Mazurka Zeng emphasized that “users increasingly value clarity, continuity, and platforms built with long-term regulatory readiness in mind.“
Read more: What Is MiCA? How the EU Regulates Cryptocurrency Markets in 2026
Context: Binance’s Exit and the Impact of MiCA
Bybit’s move is part of a broader restructuring of Europe’s crypto market. The reason: on July 1, the MiCA rulebook finally takes full effect, regulating crypto company operations across the bloc.
According to ESMA, by late May only 210 of more than 1,200 companies had received authorization. Up to 80% of operators could leave the market.
The most high-profile example is Binance. The exchange failed to secure a license in Greece, withdrew its application, and will suspend services in several EU countries starting July 1. Users have already withdrawn about $400M from Binance in the past week.
Licensed platforms like Coinbase, Kraken, and OKX can now serve all EU clients under a single passport. Bybit secured its MiCAR license in Austria back in May 2025 and is now onboarding European clients onto a fully regulated platform with transition bonuses.
Learn more: Binance Faces EU Exit — World’s Largest Crypto Exchange Misses MiCA License
