Bybit, the second-largest cryptocurrency exchange by trading volume, has announced a temporary pause in communications with clients in the European Economic Area (EEA) to comply with reverse solicitation rules. This move is part of Bybit's strategy to align with evolving EEA regulations and underscores its commitment to regulatory compliance.

Central to Bybit's efforts is the pursuit of a Markets in Crypto-Assets Regulation (MiCAR) license in Austria. Bybit aims to demonstrate its ability to meet stringent European regulatory requirements, focusing on user protection and a secure trading environment.

This strategic pause highlights Bybit's dedication to regulatory excellence, positioning the platform to reenter the EEA market with a robust regulatory framework.