MiCA's not enough: Bybit CEO says firms need MiFID, EMI licenses for European profit
By Ian Allison
Published on April 26, 2026.
Bybit CEO, Ben Zhou, has stated that while obtaining a MiFID II (Markets in Financial Instruments Directive) license for operations in Europe is not enough to make a profit, but it is essential for companies to cover the full range of products such as derivatives and tokenized assets needed to be profitable. Zhou emphasised that Bybit, the world's second-largest cryptocurrency exchange by trading volume, is still some way off from breaking even in Europe. The MiCA grandfathering period ends at the end of June, meaning firms must obtain MiCA authorization to operate across the region by July 1, a point that is expected to be the death knell for many smaller crypto firms.
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