Bybit ceases crypto trading services for European Economic Area users on global platform

Bybit is pulling the plug on crypto trading services for European Economic Area residents on its global platform. The move forces users across the EEA to migrate to a dedicated, regulated European entity or face escalating account restrictions.

The EU’s Markets in Crypto-Assets Regulation, better known as MiCA, wraps up its transition period on July 1, 2026. Every crypto platform serving European customers needs to be fully compliant by that date.

What’s actually happening

Bybit isn’t abandoning Europe. It’s splitting its operations into two distinct lanes. EEA residents currently using bybit.com, the global platform, need to move their accounts over to bybit.eu, the exchange’s EU-specific platform.

Bybit EU operates under a MiCAR license awarded by Austria’s Financial Market Authority, the FMA, in 2025. That license covers services across most EEA countries, with one notable exception: Malta.

For users who don’t migrate, the consequences are progressive. First come restrictions on trading and deposits. Eventually, accounts get downgraded to withdrawal-only access.

To sweeten the deal, Bybit launched a promotional campaign called “Move Your Funds, Get Rewarded” that offers cashback incentives on deposits made to the EU platform.

The migration campaigns kicked off in June 2026, giving users a narrow window before the July 1 cutoff.

MiCA and the bigger picture

MiCA is the EU’s attempt to create a comprehensive regulatory framework for digital assets. It covers everything from stablecoin issuance to exchange licensing. The transition period ends July 1, 2026. After that, any exchange serving EEA customers without proper licensing faces potential enforcement action.

Bybit CEO Ben Zhou has indicated that simply obtaining a MiCA license may not be enough for exchanges to achieve profitability in Europe. His assessment suggests that companies may need additional licensing under frameworks like MiFID (the Markets in Financial Instruments Directive) and EMI (Electronic Money Institution) authorization to build a viable business on the continent.

What this means for investors

For EEA-based traders currently on Bybit’s global platform, the immediate action item is straightforward: migrate to bybit.eu before the deadline or lose trading access.

The exclusion of Malta from Bybit EU’s coverage is worth noting for traders based there. Malta was once branded “Blockchain Island” for its crypto-friendly regulatory stance. Being carved out of Bybit’s EU operations suggests there may be specific regulatory or licensing complications unique to the Maltese market.

Zhou’s comments about needing MiFID and EMI licenses on top of MiCA add another layer of complexity. If multiple regulatory frameworks are truly required for profitability, the cost of doing business in Europe becomes steeper, which could discourage new entrants and further concentrate trading activity among a handful of well-capitalized exchanges.

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