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Bybit has officially launched its MiCA-compliant platform, Bybit.eu, in a move aimed at capturing the European market share under the new regulatory framework. The launch marks another major milestone in the crypto exchanges’ efforts to conform to the Markets in Crypto-Assets Regulation (MiCA) in anticipation of increased institutional involvement and growth.
Bybit’s recent announcement highlights its dedication to providing a secure and regulated trading environment for its users across 29 European Economic Area countries, including Germany, France, Spain, Italy, and more. The platform offers a range of services including custody, exchange services, and trading tools to cater to diverse user demands.
Notably, the launch comes amidst an intense competition among major exchanges seeking to capitalize on the growing demand for regulated crypto services in Europe. OKX, Coinbase, and Crypto.com have already secured MiCA licenses this year, further intensifying market competition. As a result, smaller exchanges may struggle with compliance costs and complexity, potentially favoring larger exchanges that have more resources and regulatory preparedness.
Bybit’s decision to operate within the new regulatory framework is seen as an effort to gain a competitive edge in the highly anticipated European market. Industry professionals expect the introduction of MiCA regulations to drive consolidation in the crypto space.
Source: coincentral.com
