Bybit will phase out services on its global platform for EEA users as it shifts to a regulated European entity. The exchange said assets won't be frozen, and users will get time to close positions before MiCA's July 2026 deadline.
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Bybit will phase out certain services on its global platform for users in the European Economic Area, the exchange said, as it shifts operations to a regulated European entity ahead of the MiCA transition deadline.
The affected countries include Austria, France, Germany, Italy, Spain, the Netherlands, Ireland, Sweden and others. Malta is excluded because Bybit EU's licenses are not passported there and the entity does not actively serve Maltese residents, the exchange said.
Users will retain access to assets held in their accounts while they address open positions and balances. The company wrote that affected users will keep access "with the purpose of allowing users to remediate these positions and balances." The announcement does not say assets will be frozen or seized. Service limits will be phased in, and users should watch official communications for account-specific updates, the exchange said.
Bybit EU operates as the group's regulated European platform through a MiCAR-authorized entity. Austria's Financial Market Authority granted Bybit EU GmbH crypto-asset service provider authorization in May 2025. The license covers custody and administration of crypto-assets, exchange of crypto-assets for funds and for other crypto-assets, placing of crypto-assets and transfer services. Bybit said Bybit EU is pursuing additional licensing in Austria to cover a broader product range.
The timing comes before MiCA's transition period ends on July 1, 2026. After that date, crypto firms without a MiCA license can no longer legally serve EU users. ESMA said unauthorized crypto-asset service providers must wind down in an orderly way while protecting clients' interests once the transition period ends.
The shift is already changing how exchanges compete in Europe. Coinbase and OKX have moved to attract European users as Binance prepares to restrict several EU services before the deadline, crypto.news reported.
Bybit's update differs from a full market exit because the group already has a regulated European platform. The change narrows access to Bybit Global for EEA residents and directs activity toward its authorized European structure.
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