Dubai, United Arab Emirates, July 16th, 2024,
Chainwire
Bybit, the world’s second-largest
cryptocurrency exchange by trading volume, supports the recent
approval of USDC as the first stablecoin issuer under the European
Union's Markets in Crypto Assets (MiCA) framework. This landmark
decision marks a significant step towards a more mature and
institutionalized crypto market within the entire European
Union.
MiCA's most significant aspect lies in its uniform
implementation across all EU member states. This creates a
harmonized crypto regulatory environment, eliminating the need for
separate approvals for each country. This simplifies operations for
licensed crypto businesses, allowing them to operate EU-wide.
“MiCA represents a significant step towards a more
institutionalized European crypto market, fostering trust and
transparency for investors,” said Eugene Cheung, Head of
Institutions at Bybit. “This unified regulatory framework will pave
the way for a more robust and thriving crypto ecosystem across the
entire European Union."
Growth and Collaboration Under Clear
Guidelines
Bybit believes MiCA's impact will be a positive catalyst for the
entire crypto industry. Clear regulatory guidelines establish a
foundation for long-term growth and create a more secure
environment for investors, both institutional and retail.
“Bybit is well-positioned to adapt to the evolving
regulatory landscape and remains committed to the highest
standards,” continued Cheung. “We are excited about the
opportunities MiCA presents for the EU to become a global leader in
the responsible development of the crypto industry.”
Bybit looks forward to collaborating with regulators and
industry players to navigate this exciting new era for the EU's
crypto market. The exchange offers a secure platform for investors
and is committed to playing a positive role in shaping a future
where innovation thrives alongside responsible regulation.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by
trading volume, serving over 33 million users. Established in 2018,
Bybit provides a professional platform where crypto investors and
traders can find an ultra-fast matching engine, 24/7 customer
service, and multilingual community support. Bybit is a proud
partner of Formula One’s reigning Constructors’ and Drivers’
champions: the Oracle Red Bull Racing team.
For more details about Bybit: Bybit Press.
Contact
Head of PR
Tony
Au
Bybit
tony.au@bybit.com