MiCA's not enough: Bybit CEO says firms need other licenses to turn a profit in Europe

In an interview, Ben Zhou said the crypto exchange is at least two years away from breaking even in Europe. What to know : A MiCA license is not enough to be profitable in Europe. MiFID and EMI authorizations are also required to offer derivatives products. The European crypto industry is likely to face a stark consolidation when the MiCA grandfathering period ends in two months time. Zhou said Bybit is neutral when it comes to pushing for more stringent and centralized oversight of MiCA-regulated firms.