Crypto platform Bitpanda has been fined €70,000 by Austria’s Financial Market Authority, or FMA, in what is described as the first publicly disclosed enforcement action under the European Union’s Markets in Crypto-Assets regulation, known as MiCA. The ruling is already legally binding.
According to the regulator, Bitpanda failed to submit a crypto-asset white paper at least 20 working days before publication, as required, and released marketing material before the white paper was published. FMA also said another marketing communication did not include a disclaimer stating that it had not been reviewed or approved by the regulator, and it lacked telephone and email contact details.
The reported violations were tied to procedure and disclosure requirements. The case did not involve accusations of fraud or investor losses. MiCA rules for crypto-asset service providers became fully effective at the end of 2024, and transition periods for existing firms are gradually ending. Bitpanda holds a MiCA license and is expanding across Europe, while the EU is expected to review the framework again in 2027 and tighten oversight of offshore stablecoin issuers.
Crypto platform Bitpanda has been fined €70,000 by Austria’s Financial Market Authority, or FMA, marking the first publicly disclosed enforcement penalty under the European Union’s Markets in Crypto-Assets regulation, MiCA. The ruling has already taken legal effect.
FMA said Bitpanda did not submit its crypto-asset white paper to the regulator at least 20 working days before publication. The company also released marketing material before the white paper was published.
The regulator added that another Bitpanda marketing communication did not include a disclaimer saying it had not been reviewed or approved by the authority. It also lacked telephone and email contact details.
The violations were related to procedure and disclosure requirements, not allegations of fraud or investor losses.
Rules under MiCA for crypto-asset service providers became fully effective at the end of 2024, and transition periods for existing firms are gradually coming to an end. Bitpanda holds a MiCA license and is expanding in Europe. The EU is expected to review the framework again in 2027 and tighten regulation on offshore stablecoin issuers.
Odaily cited Decrypt in its report.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
