Bybit Secures MiCA License in Austria Amid Shifting Global Crypto Rules

Bybit Receives MiCA License in Austria

According to CoinDesk, crypto exchange Bybit has been granted a MiCA license in Austria, as confirmed by the Austrian regulator FMA’s website. This development comes as Europe’s new Markets in Crypto Assets (MiCA) rules came into force at the start of this year, prompting firms to select the most suitable EU member state for their operations and to passport services across the 27-country trading bloc.

Austria is also the MiCA home base of Bitpanda, another crypto trading firm, which additionally holds a license in Germany. Bybit, founded in 2018 by Ben Zhou, is currently based in Dubai after relocating its headquarters from Singapore in 2022. Notably, in February 2025, Bybit experienced a significant security breach, resulting in the loss of $1.5 billion in assets, marking the largest cryptocurrency theft on record. Bybit did not immediately respond to requests for comment regarding the license or the hack.

Exchange	MiCA License Country	Notable Events
Bybit	Austria	$1.5B hack in Feb 2025
Bitpanda	Austria, Germany	Licensed in both countries

Bybit is now licensed under MiCA in Austria.
Europe’s MiCA rules are in effect since early 2025.
Bybit suffered a $1.5 billion hack in February 2025.

Source: CoinDesk

The MiCA license positions Bybit for broader European operations, despite recent security challenges.

Thailand to Block Bybit, OKX, and Other Crypto Exchanges

Cointelegraph reports that Thailand’s Securities and Exchange Commission (SEC) will block five cryptocurrency exchanges, including Bybit, 1000X, CoinEx, OKX, and XT.COM, from operating in the country starting June 28. The SEC cited unlicensed operation and money-laundering concerns as the primary reasons for this action. The measure is intended “to protect investors and crack down on illegal platforms used for money laundering.”

The decision follows the Royal Decree on Measures for the Prevention and Suppression of Technology Crimes, which came into effect on April 13 in Thailand. The Ministry of Digital Economy and Society (MDES) now has the authority to block unauthorized digital asset trading platforms. The SEC has filed formal complaints with the MDES, citing violations under the Royal Decree on Digital Asset Businesses, specifically for operating without a valid local license. The regulator has urged investors to take necessary action regarding their assets before the shutdown date, warning that users of unlicensed platforms are not protected under Thai law and may be exposed to risks such as scams and money laundering.

Five exchanges to be blocked: Bybit, 1000X, CoinEx, OKX, XT.COM.
Shutdown date: June 28.
Reason: Unlicensed operation and money-laundering concerns.
Investors advised to withdraw assets before the deadline.

Thailand has recently approved Tether’s USDt (USDT) and Circle’s USDC (USDC) for use in cryptocurrency trades, allowing these stablecoins to be listed on regulated exchanges nationwide. The Ministry of Finance also plans to issue $150 million worth of digital investment tokens for retail investors to purchase government bonds.

Source: Cointelegraph

Thailand’s regulatory crackdown highlights the country’s commitment to investor protection and anti-money laundering measures in the crypto sector.

Fastex Expands U.S. Presence With Los Angeles Office

CoinDesk reports that Dubai-based crypto exchange Fastex is expanding into the U.S. with a new office in Los Angeles. The exchange will offer spot trading for tokens such as bitcoin, ether, and its native Fasttoken to U.S. investors. This move is influenced by the Trump administration’s more lenient approach to crypto regulation, despite the absence of a concrete legal framework.

Fastex’s Chief Legal Officer, Vardan Khachatryan, stated that the U.S. Securities and Exchange Commission (SEC) has retreated from its previous regulation-by-enforcement approach, dropping open investigations and closing ongoing litigation against crypto exchanges. Khachatryan acknowledged that while there is still no concrete legal framework, the policy shift has reduced the risk for crypto businesses. He also mentioned that New York, despite being an attractive location, remains challenging due to the difficulty of obtaining a BitLicense from the New York Department of Financial Services (NYDFS). Fastex is also working on obtaining a license from Dubai’s Virtual Assets Regulatory Authority (VARA) and is considering future expansion into Latin America, starting with Brazil, followed by Argentina and Mexico.

Fastex opens Los Angeles office for U.S. expansion.
Spot trading for bitcoin, ether, and Fasttoken to be offered.
Expansion driven by Trump administration’s crypto-friendly policies.
Future plans include Latin American markets: Brazil, Argentina, Mexico.

Source: CoinDesk

Fastex’s U.S. entry reflects a broader trend of crypto companies returning to the U.S. amid regulatory shifts.

SEC Dismisses Enforcement Case Against Binance

According to the South China Morning Post, the U.S. Securities and Exchange Commission (SEC) has dismissed its enforcement case against Binance, marking a significant shift in the regulator’s stance on cryptocurrency under President Donald Trump. The SEC and Binance’s co-founder Zhao Changpeng filed a joint motion to stay the case in the U.S. District Court for the District of Columbia, following a joint request in February to pause the lawsuit for 60 days.

The SEC and Zhao cited the formation of a special agency task force by then-acting chairman Mark Uyeda to set crypto regulatory policy as a reason for the pause. The latest filing calls for dismissing the case with prejudice, meaning it cannot be refiled, and without costs or fees to any party. Binance described the dismissal as a “huge win for crypto” and thanked SEC chair Paul Atkins and President Donald Trump “for pushing back against regulation by enforcement.”

SEC dismisses enforcement case against Binance with prejudice.
Case cannot be refiled; no costs or fees to any party.
Binance calls the outcome a “huge win for crypto.”
Regulatory shift attributed to Trump administration’s approach.

Source: South China Morning Post

The dismissal of the Binance case signals a dramatic regulatory shift and is celebrated by the crypto industry as a victory against enforcement-driven oversight.

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