Major Crypto Exchanges Launch Fully Regulated European Platforms
Crypto exchange operators Bybit and OKX have announced the launch of fully regulated trading platforms targeting the European Economic Area (EEA) this week, reflecting a growing trend of major exchange operators moving into the bloc following the implementation of the Markets in Crypto-Assets (MiCA) regulation.
Bybit and OKX Secure EEA Licenses
Bybit deployed Bybit.eu, securing a Crypto-Asset Service Provider (CASP) license under the MiCA framework to serve EEA users. The license, granted to operations based in Austria in late May, covers 29 EEA countries.
Competitor OKX followed suit by launching a MiCA-licensed centralized crypto exchange in France. OKX Europe CEO Erald Ghoos characterized the move as “a major milestone in our European expansion,” noting France’s strategic importance.
Both platforms leverage the MiCA passporting mechanism, allowing licensed firms operating within the EEA to automatically operate in any other EEA member state without additional local approval.
Platform Features and Localization
Bybit.eu offers a multi-language interface (currently supporting English, Polish, Portuguese, and Spanish with plans for expansion) and integrates multiple liquidity sources alongside advanced trading tools for both retail and institutional clients.
OKX’s offering includes trading pairs denominated in euros, staking products, and trading bots, along with localized customer support services.
Europe Poised to Lead Crypto Regulation
The MiCA framework, fully implemented in late 2024, aims to standardize crypto regulation across all 27 EU member states plus Iceland, Liechtenstein, and Norway (the EEA). This unified regulatory environment is cited by exchanges as a key factor for establishing operations in Europe rather than jurisdictions like the UK.
Ripple Effect: Crypto Activity Increases
The regulatory clarity under MiCA appears to be spurring increased activity in the European crypto market. Following the exchange launches, stablecoin issuance (including Paxos’ USDG) and platform-level trading volumes have reportedly surged in the EEA.
Industry figures, such as Konstantin Vasilenko, co-founder of Paybis Europe, suggest Europe is consolidating its global lead in the cryptocurrency sector, stating “the EU is outpacing even US President Donald Trump’s crypto-friendly America.” Paybis reported a 70% jump in European volumes in the quarter following MiCA’s licensure opening on January 1, 2025.
The Bigger Picture
Evidence indicates the MiCA regulation is becoming the preferred gateway for global crypto firms seeking a compliant presence in the world’s largest crypto market. Prominent examples include Bitvavo (granted license by the Dutch regulator AMF timing its MiCA passport with a listing on Euronext), and Coinbase selecting Luxembourg as its EU headquarters and MiCA base under US leadership.
These developments highlight Europe’s strategic role in shaping the future of Web3 infrastructure through its pioneering regulatory approach to decentralized finance (DeFi) and digital assets.
