- Austrian crypto platform BitPanda has secured its third MiCA license from Austria’s financial regulator, following previous approvals in Germany and Malta.
- Despite MiCA’s goal of regulatory harmonization across the EU, Bitpanda’s multiple licenses raise questions about consistent implementation of the framework.
- None of the three regulatory bodies currently maintain public registries showing which firms have received MiCA licenses.
Bitpanda, the Austrian fintech unicorn, has obtained its third license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework, as announced on April 10. The latest approval comes from Austria’s Financial Market Authority (FMA), adding to the company’s existing licenses from regulators in Germany and Malta, as the firm works toward becoming “the most regulated crypto platform in Europe.”
The Vienna-headquartered company shared the announcement on its social media platform X (formerly Twitter), marking another milestone in its regulatory expansion across the European Union. MiCA, which became fully operational on December 30, 2024, aims to establish a unified regulatory framework for crypto asset service providers throughout the EU.
Bitpanda was among the first crypto platforms to receive a MiCA license after the framework’s implementation. The company’s initial approval came from Germany’s Federal Financial Supervisory Authority (BaFin) on January 23, followed by a second license from the Malta Financial Services Authority (MFSA), as announced on the company’s LinkedIn page.
Regulatory Landscape Under MiCA
According to records from Austria’s FMA, Bitpanda currently holds four different approvals across Austria and Germany through various entities including Bitpanda Asset Management GmbH, Bitpanda Financial Services GmbH, Bitpanda GmbH, and Bitpanda Payments GmbH. However, at the time of reporting, none of the three regulatory authorities—Austria’s FMA, Germany’s BaFin, or Malta’s MFSA—maintain publicly accessible registries showing firms that have received MiCA licenses.
Questions About MiCA’s Uniform Implementation
The MiCA framework, initially proposed in 2020, was designed to establish comprehensive and uniform EU market rules for crypto-assets, according to the European Securities and Markets Authority. Despite this intention to harmonize regulation across member states, Bitpanda’s pursuit of multiple licenses in different jurisdictions raises questions about potential regulatory inconsistencies within the bloc.
When approached for comment regarding its strategy of securing several MiCA licenses, Bitpanda did not provide a response at the time of publication. This approach could indicate that crypto companies may need to navigate varying interpretations of the MiCA framework across different EU member states, despite the regulation’s goal of creating a single set of rules for the entire European Union.
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