4 months ago
Austrian fintech unicorn Bitpanda has secured its 3rd licence nether the European Union’s Markets successful Crypto-Assets Regulation (MiCA) framework, further expanding its regulatory footprint crossed the bloc.
Bitpanda connected April 10 announced receiving a caller MiCA licence from Austria’s Financial Market Authority (FMA), its 3rd aft approvals from regulators successful Germany and Malta.
Its latest support marks “another measurement toward gathering the astir regulated crypto level successful Europe,” the speech said successful an announcement connected X.
Source: Bitpanda
MiCA, which took afloat effect connected Dec. 30, 2024, is designed to supply a harmonized ineligible framework for crypto plus work providers (CASPs) crossed the EU. Despite this goal, Bitpanda’s pursuit of aggregate licenses raises questions astir however consistently MiCA is being interpreted and enforced crossed the bloc.
Bitpanda’s MiCA postulation story
Vienna-headquartered Bitpanda was 1 of the archetypal crypto plus work providers (CASP) to person a MiCA licence aft the framework entered into afloat force connected Dec. 30, 2024.
Germany’s Federal Financial Supervisory Authority (BaFin) was the archetypal regulator to issue a MiCA licence for Bitpanda, the steadfast announced connected Jan. 23.
According to Bitpanda's announcement connected LinkedIn, it subsequently secured different MiCA licence from the Malta Financial Services Authority (MFSA).
Related: Malta regulator fines OKX crypto speech $1.2M for past AML breaches
“Following yesterday’s announcement of our archetypal MiCAR license, this 2nd licence sends a wide message: Bitpanda is mounting the modular arsenic Europe’s astir unafraid and well-regulated crypto platform,” the institution wrote.
Bitpanda announced receiving a MiCA licence from the MFSA successful a LinkedIn post. Source: LinkedIn posting day extractor
At the clip of publication, nary of the applicable regulators — Austria’s FMA, Germany’s BaFin, oregon Malta’s MFSA — support publically disposable registries showing which firms person received MiCA licenses.
Data from Austria’s Financial Market Authority connected Bitpanda’s licensing. Source: FMA
According to Austria’s FMA records, Bitpanda presently holds 4 antithetic approvals successful Austria and Germany for entities including Bitpanda Asset Management GmbH, Bitpanda Financial Services GmbH, Bitpanda GmbH and Bitpanda Payments GmbH.
Does MiCA supply for aggregate licenses successful EU states?
Proposed successful 2020, the MiCA model is designed to acceptable broad regulations for CASPs crossed the EU, creating “uniform EU marketplace rules for crypto-assets,” according to a cardinal MiCA regulator, the European Securities and Markets Authority.
Despite MiCA’s purpose to harmonize crypto regularisation crossed the EU, Bitpanda’s pursuit of aggregate licenses suggests regulatory inconsistencies whitethorn inactive beryllium among subordinate states.
Cointelegraph approached Bitpanda for remark regarding its attack to securing aggregate MiCA licenses but did not person a effect astatine the clip of publication.
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