Bybit is shifting EEA users to its Austria-licensed Bybit EU platform as MiCA’s transition period ends, highlighting how authorised firms can expand while unlicensed providers pull back.
Europe’s Markets in Crypto-Assets regime entered its final stage on July 1, 2026, sharpening the divide between crypto companies that are authorised to operate and those that must stop serving the EU. Bybit said it will gradually restrict EEA residents’ access to its global platform and move users to Bybit EU, a separate Austria-licensed platform based in Vienna that serves the EEA except Malta. Users are set to receive instructions on managing open positions, transferring balances and migrating to the regulated platform, where a separate account is required. The move illustrates the broader reshaping of Europe’s crypto market under MiCA. Licensed providers can use passporting to serve customers across the bloc under a single approval, while firms without authorisation face service withdrawals. Bybit said Bybit EU offers crypto-asset custody and administration, crypto-to-fiat and crypto-to-crypto exchange services, and transfer services. To attract users, it launched a “Move Your Funds, Get Rewarded” campaign running through July 31, 2026, offering sign-up rewards, temporary VIP upgrades and USDC cashback on larger deposits. The industry shakeout may be substantial. ESMA said that by the end of May only 210 out of more than 1,200 firms had obtained authorisation, suggesting many providers could leave the market. Binance has become a prominent example after failing to secure a licence in Greece, withdrawing its application and suspending services in several EU countries from July 1. Licensed platforms including Coinbase, Kraken and OKX are positioned to continue serving EU clients under the common rulebook.