The CEO of Bybit has stated that the Markets in Crypto-Assets (MiCA) regulation alone is insufficient for firms to achieve profitability in Europe, emphasizing the need for additional licenses. This perspective highlights the challenges crypto firms face in navigating the regulatory landscape.
Meanwhile, the Pi Network is making strides toward obtaining MiCA approval before the July 2026 deadline, potentially positioning itself favorably in the evolving European market. As the regulatory framework develops, companies like Bybit are advocating for a more comprehensive approach to licensing.