Austrian Fintech Company Bitpanda Achieves Third MiCA License
In a notable advancement for its operations, Austrian fintech company Bitpanda has recently gained its third license under the European Union’s Markets in Crypto-Assets Regulation (MiCA). This milestone, announced on April 10, adds to its previous approvals from both German and Maltese regulators, thereby solidifying its status in the EU cryptocurrency market.
Commitment to Regulatory Leadership
The new MiCA license, awarded by Austria’s Financial Market Authority (FMA), represents Bitpanda’s ongoing commitment to establishing itself as a leading contender in Europe’s regulatory landscape for cryptocurrencies. In a statement shared on X, the exchange expressed that this development is a significant step toward establishing the “most regulated crypto platform in Europe.”
MiCA Overview and Implications
MiCA is aimed at creating a standardized legal framework for cryptocurrency asset service providers (CASPs) throughout the EU, with its provisions fully coming into effect as of December 30, 2024. However, Bitpanda’s pursuit of several licenses raises concerns regarding the uniformity of MiCA’s implementation and enforcement among EU member nations.
Bitpanda’s Foundational Achievements
Founded in Vienna, Bitpanda was among the initial CASPs to secure a MiCA license following the framework’s enactment. It first received approval from the Federal Financial Supervisory Authority (BaFin) of Germany on January 23, as per the company’s official communication. Following that, Bitpanda announced via LinkedIn the acquisition of another license from the Malta Financial Services Authority (MFSA).
Current Regulatory Landscape
At the moment, there is no public registry available from the relevant regulatory bodies — namely the FMA, BaFin, or MFSA — detailing which firms have obtained MiCA licenses. Bitpanda has reported that it currently holds multiple approvals in Austria and Germany, covering various entities including Bitpanda Asset Management GmbH and Bitpanda Payments GmbH.
The Future of MiCA Regulation
Originally proposed in 2020, the MiCA regulation seeks to establish coherent market rules for cryptocurrency activities in the EU. Despite this comprehensive framework, Bitpanda’s acquisition of multiple licenses hints at potential discrepancies in regulatory practices across EU states.
Cointelegraph reached out to Bitpanda for insights into its strategy for obtaining multiple MiCA licenses but did not receive a response before publication.
