MiCA's not enough: Bybit CEO says firms need MiFID, EMI licenses for European profit
CoinDesk
Bybit CEO Ben Zhou states that a MiCA license is insufficient for European profitability, requiring additional MiFID and EMI licenses.Summary
Bybit CEO Ben Zhou explains that while obtaining a Markets in Crypto-Assets (MiCA) license is a significant milestone for operating in Europe, it is not enough to achieve profitability on its own. Zhou notes that the current MiCA framework limits services to basic fiat-to-crypto and crypto-to-crypto transactions. To offer more profitable products like derivatives and tokenized assets, firms must also secure MiFID II and Electronic Money Institution (EMI) licenses. Consequently, Bybit expects to reach profitability in the European market within the next two years, viewing current efforts as a long-term strategic investment amidst expected market consolidation.
(Source：CoinDesk)