BingX has obtained a Markets in Crypto-Assets, or MiCA, license in Austria through its European subsidiary, MEGE zweite GmbH, giving the exchange a regulated foothold in the European Union framework for crypto services.
Austria’s Financial Market Authority approved the authorization on Oct. 13. The license covers four activities and could allow BingX EU to extend those services across 29 countries in the European Economic Area, although it must first complete the required cross-border notification process.
Authorization covers four defined crypto services
According to the Austrian regulator’s approval, BingX EU is authorized to offer cryptocurrency custody, exchanges between crypto assets and conventional money, crypto-to-crypto exchanges, and transfer services for digital assets. The authorization was granted to MEGE zweite GmbH, the company’s European entity.
The scope is limited to those services. The source article notes that the approval does not include other trading-related activities beyond the four categories listed by the regulator.
MiCA passporting could extend access beyond Austria
With an authorization in one member state, MiCA gives crypto asset service providers a route to operate in other EEA markets through passporting. For BingX EU, that creates a path to expansion across 29 European markets using its Austrian approval as the home authorization.
That expansion is not automatic. The company still has to complete cross-border notification procedures before it can begin offering services in other jurisdictions. The process is set out under the European Securities and Markets Authority’s Article 65 rules, which describe the timelines and information-sharing steps between a firm’s home regulator and the authorities in destination countries.
Company points to regulated local offering, but no launch timing yet
BingX chief executive Daniel Lai said the authorization would enable the company to build locally regulated crypto services for users in Europe. He described the MiCA framework as a common set of rules focused on security, transparency, and accountability.
Even with the license now confirmed, BingX EU has not announced when its regulated services will go live, nor has it identified which market it may enter first. For now, the approval establishes the legal basis for expansion rather than a firm rollout schedule.
Part of a broader shift under Europe’s new regime
The Oct. 13 decision comes after a regulatory process BingX had previously discussed with customers. It also arrives as MiCA has become fully applicable in 2026, following a transition period that allowed existing crypto providers to adapt under national arrangements.
Austria has already become a licensing venue for other crypto firms under MiCA, including AMINA Bank and WhiteBIT EU, which obtained approvals for various activities such as custody, trading, and portfolio management. For BingX EU, the next confirmed step is completing passporting arrangements before any wider EEA launch can begin.
Source: crypto.news