Update (July 2, 2025, at 2:10 p.m. UTC): This article has been updated to add comments from Erald Ghoos, CEO of OKX Europe.
The exchanges of Crypto Bybit and OKX both launched platforms fully regulated in Europe this week while regulatory clarity continues to attract major exchanges to the block.
According to a Wednesday announcementCrypto Exchange bybit.eu was launched to serve users of the European Economic Area (EEE) with a license as Crypto-Aset Service Supplier (CASP) as part of the Market Regulatory framework in Crypto-Astets (Mica) assets. Under the rules, operations based on Bebit Austria, created at the end of May, are authorized in 29 EEA countries.
Crypto exchange competitor OKX too announcement On Wednesday, he launched his exchange of centralized cryptography entirely regulated in France via Mica Passport. The CEO of OKX Europe, Erald Ghoos, said that France is a key market for the company and its presence, there is “an important step in our European expansion”.
Bybit.eu offers a multilingual platform with the support for English, Polish, Portuguese and Spanish, with plans to add German, French, Italian and Romanian. The exchange said that it would aggregate the liquidity of several providers and will offer advanced trading tools adapted to European retail and institutional users.
The OKX platform includes Euro trading pairs, lineage products and trading robots, as well as localized customer support.
The CEO of OKX Europe, Erald Ghoos, told Cintelegraph that the company was fully aligned with Mica standards and is also an authorized goalkeeper in Europe. User funds would be entirely separate, as required by the frame.
GHOOS said OKX also provides “Guardian guarantees lined up in Mica, including off -balance sheet treatment for user assets and automatic reconciliation protocols”.
In relation: Coinbase secures the Mica license, names Luxembourg as the EU headquarters
Mica changes crypto in Europe
The two launches occur only a few months after the entry into force of the Mica on December 30, 2024. The new rules standardize the cryptographic rules through the EU and introduce a passport mechanism, allowing approved companies to operate in an EEA country without the need for additional approval.
This is also a main reason mentioned in favor of the establishment of the operations of cryptography service providers in the EEA rather than in competing jurisdictions such as the United Kingdom.
In relation: “Political procrastination” leaves the United Kingdom to train for the EU, in the United States in cryptographic regulations: experts
Europe is a crypto battlefield
The European Economic Area notes an increased activity after the unification of its regulatory environment. On Tuesday, the global dollar (USDG) was launched in the EU, the PAXOS transmitter claiming compliance with Mica.
On Saturday, Crypto Exchange Bitvavo obtained a mica license by the Dutch for the financial markets, which allows him to pass a passport through the EEA. Kraken, one of the oldest exchanges of world cryptography, also announced on June 25 that he widens his EEE operations after obtaining a Mica license.
Konstantins Vasilenko, co-founder and executive of Paybis, in Europe, recently said that Europe was advancing in the global crypto race as part of its mica. He said the EU exceeds Even American President’s America Donald Trump.
“The Mica license window opened its doors on January 1, 2025; during this quarter, our EU volumes jumped 70% while the number of trades barely moved, which tells me that the new money was greater and more deliberate,” said Vasilenko.
Review: How the laws on cryptography change around the world in 2025
