Bybit introduces restrictions for users in the EU: what changes from July 1
On June 29, the cryptocurrency exchange Bybit officially announced a phased restriction of access to a number of services on its global platform for residents of the European Economic Area (EEA). This decision is not a coincidence, but a direct consequence of the entry into force of the MiCA regulation, which from July 1 introduces strict rules for crypto platforms in 27 EU countries.
According to the company, users will receive advance notifications about the timing of the changes to allow them to adjust their positions. Importantly: funds in accounts will remain available for withdrawal and management, but new operations may be restricted. The restrictions will affect residents of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden. Malta is not on this list — Bybit EU does not have an active license there and does not offer services to local residents.
Alternative for the EU: Bybit EU with MiCA license
For users from the EU wishing to continue working with the exchange, the group has introduced the regulated platform Bybit EU. It operates through a legal entity authorized under MiCA standards. However, accessing Bybit EU products will require opening a separate account. This creates an additional barrier but simultaneously ensures compliance with the new European norms.
Alongside Bybit, Binance is also preparing similar restrictions. From July 1, the exchange may suspend onboarding of new clients from the EU, limit some services, but retain the ability to manage positions and withdraw funds. Users are advised to transfer assets to non-custodial wallets or licensed providers. Previously, Binance withdrew its MiCA license application in Greece, intending to obtain authorization in another EU country.
As a reminder, on July 1, the MiCA transitional period ends, and crypto platforms without a license must cease servicing clients from the EU. Violation risks serious sanctions. The market is entering a new era of regulation, and those who fail to adapt risk losing their European audience.
My analysis: This is not just technical restrictions — it is the beginning of an era where crypto exchanges will be forced to choose between global expansion and local compliance. For users in the EU, this means familiar services may disappear, but in return, more transparency and protection will emerge. The question is how quickly the market will adapt to the new rules of the game.