Bybit Blocks European Users From Pump.fun Token Sale Under MiCA Rules

Bybit will host the public sale of Pump.fun’s PUMP token from July 12 at 14:00 UTC through July 15. it will run the sale on its main global platform, but European users .

This restriction is a direct result of the Markets in Crypto-Assets Regulation (MiCA) rules, which limits how new crypto tokens can be sold in EU countries. Bybit stated that because of these rules, the sale will not be available through Bybit.eu, which is its MiCA-compliant platform.

The sale will offer 150 billion PUMP tokens, representing 15% of the total 1 trillion supply. The fixed sale price is $0.004 USDT per token.

Subscriptions will be accepted in USDT, USDC, SOL, and bbSOL. These include both stablecoins and Solana-native assets, aligning with Pump.fun’s infrastructure on the Solana blockchain.

Bybit is currently the only major exchange that has confirmed participation in the token sale. Other platforms have not publicly disclosed involvement.

Pump.fun, launched in January 2024, allows users to create and trade meme coins without coding. It gained traction during Q1 2024 due to its simple interface and connection to Solana-based assets.

According to he platform has generated over $715 million in total revenue. Within the past 30 days, it earned $35 million.

However, activity has slowed. Data from shows a 75% drop in trading volume since January. DefiLlama reported an even larger decrease, with daily volume falling by 80% in six months.

On social media, some users have raised concerns about value loss. Ash Crypto that around $700 million was extracted from users, adding that many experienced losses while trading meme coins on the platform.

Gate.io, which had a listing for the Pump.fun token sale, removed the page on July 8. It now returns a 404 error.

A Gate.io representative confirmed that discussions with Pump.fun are ongoing, but did not announce any timeline for relisting. The original listing was expected to support a raise of $600 million, based on the fixed price and supply figures.

With the Gate.io listing withdrawn, Bybit remains the only active platform hosting the sale. No other exchanges have made official announcements.