The FMA found that Bitpanda failed to meet the strictly enforced 20-day submission window required for crypto-asset white papers before they are made public. Beyond the timing breach, the company distributed marketing materials that lacked essential disclosures. These communications failed to clarify that the content had not been reviewed by a competent authority and omitted the firm’s mandatory contact details, including telephone and email information.
In section Cryptocurrency
Austria’s FMA Slaps Bitpanda with €70,000 Fine Over MiCA Violations
The Austrian Financial Market Authority has issued a €70,000 penalty to Bitpanda, marking the regulator’s first published enforcement action under the European Union’s Markets in Crypto-Assets regulation. The fine stems from procedural lapses regarding mandatory white paper disclosures and non-compliant marketing communications released before regulatory review.
Regulators finalized the decision through an expedited procedure, signaling a shift toward active enforcement now that the EU’s transition period for the common crypto framework concluded in July. Despite this penalty, Bitpanda continues to operate under MiCA authorizations secured in various jurisdictions, including Germany, which allow the Vienna-founded exchange to passport services across the European Economic Area. The case serves as a test for the FMA as it continues to process ongoing applications, such as those from firms like Bitget, which recently selected Vienna as a potential hub for its own regional operations.
Comments (0)
No comments yet. Be the first!