Viennese passport for BingX. The European entity of the exchange platform has obtained its MiCA approval from the Austrian financial markets regulator (FMA). BingX EU will be able to offer custody and exchange of cryptoassets in 29 countries in the European Economic Area once passport notifications are completed.
The platform joins the small group of global players who have passed through Vienna rather than Malta or Luxembourg to comply with Brussels.
Key Points
The Austrian regulator has authorized the entity MEGE zweite GmbH to operate as a PSCA from Vienna
Four activities covered, from custody of assets to transfers made on behalf of clients
Derivative products remain out of scope and depend on another European text, MiFID II
Austria asserts itself as a gateway to Malta, Luxembourg and Ireland
BingX EU obtains MiCA Article 63 approval
This approval falls under Article 63 of the MiCA regulation, which organizes the authorization procedure for cryptoasset service providers (PSCA). The text leaves twenty-five working days for the national authority to declare a complete file, then forty working days to decide on the merits, theoretical deadlines which candidates largely exceed in practice. The authorized entity, MEGE zweite GmbH, is domiciled in Vienna.
The authorization covers the custody and administration of cryptoassets on behalf of clients, exchange for funds, exchange for other cryptoassets and transfer on behalf of third parties. Missing is the operation of a trading platform. For a house whose perpetual futures contracts and copy trading have made a reputation, precision is important: derivatives on cryptoassets escape MiCA and fall under the MiFID II directive (which it will be recalled that it imposes prudential requirements and customer protection obligations of a completely different order).
“Our priority is to offer European users a trusted and locally regulated trading experience. Operating under MiCA will allow us to deliver our services within a clear regulatory framework that gives users confidence while supporting the long-term development of the European digital ecosystem. »
Daniel Lai, General Manager of BingX EU
BingX claims over 40 million users. Founded in 2018, the platform has sponsored Chelsea FC since 2024 and Scuderia Ferrari HP since this year.
MiCA license: Vienna at the European counter, and the compliance bill
This passage through Austria follows an already traced path. Bybit set up its European headquarters in Vienna after obtaining the same approval from the FMA in May 2025, while Coinbase went through Luxembourg, Kraken through Ireland and OKX through Malta. In July 2025, ESMA criticized the Maltese authority for having approved a service provider while several points in the file remained unresolved.
The European stamp has a quantifiable counterpart. Article 75 of the regulation makes the curator liable for losses of cryptoassets or means of access attributable to its own failure, up to their market value. Customer assets must also be segregated from the platform's own funds.
BingX knows the cost of a breach. One of its hot wallets was emptied in September 2024, for an amount estimated between $43 and $52 million by onchain analysis companies PeckShield and Cyvers. The platform announced that it would cover all losses from its own reserves and reopened withdrawals within a few days. Under MiCA, the same mishap would result in a legal obligation to compensate.
The BingX EU press release also carries its own regulatory notice: it “constitutes marketing communication within the meaning of MiCAR” and does not constitute investment advice. Article 7 of the regulation requires this explicit identification on any promotional communication issued by an approved service provider.
