Bybit Preps for MiCA Deadline with Service Cuts and Cashback Campaign

Bybit is implementing changes to comply with the European Union's Markets in Crypto-Assets (MiCA) regulation ahead of its July 1 deadline. The company will phase out certain services on Bybit Global for users in the European Economic Area (EEA), affecting residents of 29 countries, excluding Malta.

Users impacted by these changes will receive advance communications explaining the implementation schedule and providing guidance on managing existing and new positions. They will retain access to assets held in custody during the transition.

Bybit EU has launched a 'Move Your Funds, Get Rewarded' campaign to attract new users to its Austria-based platform, offering welcome bonuses, temporary VIP upgrades, card incentives, and up to 3% annualized cashback on qualifying crypto deposits. The program is available until July 31.

Bybit stated that further updates will be issued as additional information becomes available, urging users to follow official communications for any account-related developments. The company's support team will remain available to address user inquiries during the transition.