The Austrian Fintech Unicorn Bitpanda has secured the third license under the European Union market in the framework of Crypto-Assets Regulation (MICA), which further expands its regulation throughout Bloc.
The Bitpanda on April 10 announced that a new MICA license was received from the Austria’s Financial Market Authority (FMA), the third after approved from German and Malta regulators.
The latest approval marks “another step towards developing the most regulated crypto platform in Europe,” the exchange said in an announcement in X.
Source: Bitpanda
Mica, which is full effect on December 30, 2024, is Designed to provide a neat legal plot For crypto asset service providers (CASP) throughout the EU. Despite this goal, the pursuit of the Bitpand of many licenses has raised questions about how MICA has been translated and implemented throughout Bloc.
Mica’s Mica’s story Mica
VIENN-HEADQUARTERED BITPANDA was one of the first Crypto Asset Service Providers (CASP) to receive a Mica license after the The plot enters with full force On December 30, 2024.
Germany’s Federal Financial Supervisory Authority (Bafin) was the first regulator to Issue a MICA license for BitpandaThe firm announced on January 23.
According to Bitpanda’s announcement at LinkedIn, following this secure Another MICA license from the Malta Financial Services Authority (MFSA).
Related: Malta Regulator Fines Okx Crypto Exchange $ 1.2m for the past Aml Breaches
“Following the announcement of yesterday of our first Micar license, this second license sends a clear message: Bitpand sets the standard as the most secure and orderly platform of Europe’s crypto platform,” the company wrote.
Bitpanda announced that receiving a MICA license from MFSA to a LinkedIn post. Source: LinkedIn Posting Date of Date
At the time of publication, none of the associated regulators – Austria’s FMA, Bafin of Germany, or Malta’s MFSA – maintain available public registers showing which companies have received MICA licenses.
The data from the authority in the Austria financial market to the licensing of the bites. Source: FMA
According to Austria’s FMA RecordsFour different approved approves in Austria and Germany are currently holding a creature for creatures including Bitpanda Asset Management GMBH, Bitpanda Financial Services GMBH, Bitpanda GMBH and Bitpanda Payment GMBH.
Does Mica provide for many licenses to EU states?
Suggested in 2020, the MICA framework was designed to set comprehensive regulations for Casp across the EU, creating “uniform EU market rules for crypto assets,” According to In a major MICA regulator, the European Securities and Markets Authority.
Despite Mica’s goal of incorporating crypto regulation throughout the EU, the pursuit of the Bitpand of many licenses suggests regulations that inconsistency can still exist in member states.
Cointelegraph approached Bitpand for a comment on his approach to securing many MICA licenses but did not receive a response at the time of publication.
