- Austria-based BitPanda received MiCA license from German regulator BaFin, allowing operations across EU’s 27 nations.
- The exchange serves 6 million users as of December 2023.
- Bitpanda becomes the second company to receive the license after Boerse Stuttgart Digital.
- MiCA license enables cryptocurrency service providers to operate under standardized EU regulations.
- Other companies including MoonPay, BitStaete, ZBD, and Hidden Road have also secured MiCA licenses.
Austrian cryptocurrency exchange Bitpanda has secured a Markets in Crypto Assets (MiCA) license from Germany‘s Federal Financial Supervisory Authority (BaFin), marking a significant expansion of its regulatory compliance across the European Union’s 27 member states.
Strategic European Expansion
The MiCA license, which sets standardized rules for cryptocurrency service providers in the EU, positions Bitpanda to serve a potential market of 450 million people. CEO and co-founder Eric Demuth stated, "This milestone enables us to bring easy and safe investing to over 450 million people."
Growing List of Licensed Providers
Bitpanda joins Boerse Stuttgart Digital as the second company to receive the MiCA license from BaFin. Other cryptocurrency service providers, including MoonPay, BitStaete, ZBD, and prime brokerage firm Hidden Road, have also obtained their licenses, indicating growing regulatory adoption in the European crypto sector.
MiCA Framework Impact
The MiCA framework, implemented by the European Union, establishes consistent regulatory standards for cryptocurrency operations across member states. This harmonized approach aims to protect investors while providing clear operational guidelines for crypto service providers. With 6 million users as of December 2023, Bitpanda‘s licensed status strengthens its position in the regulated European cryptocurrency market.
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