Austrian fintech unicorn Bitpanda has secured its third license below the European Union’s Markets in Crypto-Property Regulation (MiCA) framework, additional increasing its regulatory footprint throughout the bloc.
Bitpanda on April 10 introduced receiving a brand new MiCA license from Austria’s Monetary Market Authority (FMA), its third after approvals from regulators in Germany and Malta.
Its newest approval marks “one other step towards constructing essentially the most regulated crypto platform in Europe,” the trade mentioned in an announcement on X.
Supply: Bitpanda
MiCA, which took full impact on Dec. 30, 2024, is designed to provide a harmonized legal framework for crypto asset service suppliers (CASPs) throughout the EU. Regardless of this aim, Bitpanda’s pursuit of a number of licenses raises questions on how persistently MiCA is being interpreted and enforced throughout the bloc.
Bitpanda’s MiCA assortment story
Vienna-headquartered Bitpanda was one of many first crypto asset service suppliers (CASP) to obtain a MiCA license after the framework entered into full force on Dec. 30, 2024.
Germany’s Federal Monetary Supervisory Authority (BaFin) was the primary regulator to issue a MiCA license for Bitpanda, the agency introduced on Jan. 23.
In keeping with Bitpanda’s announcement on LinkedIn, it subsequently secured one other MiCA license from the Malta Monetary Companies Authority (MFSA).
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“Following yesterday’s announcement of our first MiCAR license, this second license sends a transparent message: Bitpanda is setting the usual as Europe’s most safe and well-regulated crypto platform,” the corporate wrote.
Bitpanda introduced receiving a MiCA license from the MFSA in a LinkedIn publish. Supply: LinkedIn posting date extractor
On the time of publication, not one of the related regulators — Austria’s FMA, Germany’s BaFin, or Malta’s MFSA — keep publicly out there registries displaying which companies have acquired MiCA licenses.
Information from Austria’s Monetary Market Authority on Bitpanda’s licensing. Supply: FMA
In keeping with Austria’s FMA records, Bitpanda at present holds 4 totally different approvals in Austria and Germany for entities together with Bitpanda Asset Administration GmbH, Bitpanda Monetary Companies GmbH, Bitpanda GmbH and Bitpanda Funds GmbH.
Does MiCA present for a number of licenses in EU states?
Proposed in 2020, the MiCA framework is designed to set complete rules for CASPs throughout the EU, creating “uniform EU market guidelines for crypto-assets,” according to a key MiCA regulator, the European Securities and Markets Authority.
Regardless of MiCA’s goal to harmonize crypto regulation throughout the EU, Bitpanda’s pursuit of a number of licenses suggests regulatory inconsistencies should still exist amongst member states.
Cointelegraph approached Bitpanda for remark relating to its method to securing a number of MiCA licenses however didn’t obtain a response on the time of publication.
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