Bitpanda Secures its Third MiCA License from Austrian Regulator
- Bitpanda has received its third MiCA license; this time around, its from Austrias Financial Market Authority, making it the first fully approved cryptocurrency firm under the EUs new law in Austria.
- Despite MiCA aiming for a unified crypto framework across the EU, Bitpandas multiple licenses show that regulatory differences may still exist between member countries.
Bitpanda has now acquired its third MiCA license, this time from Austrias FMA. This new approval would help the company grow its legal presence in Europe.
The company first shared the news on the 10th of April, saying that this new license adds to the other two from Germany and Malta. This step makes the platform the first business in Austria to be fully approved under the EUs new crypto law.
The company added that this move has made it closer to becoming one of Europes top digital asset provider platforms. Users can now trust a platform checked by officials across many countries. Bitpanda said this means better safety for people and stronger rules for the industry at large.
Bitpanda Previous MiCA Acquisition Journey
The Vienna-based crypto platform, Bitpanda, was among the first crypto firms to get a MiCA license after the European Unions new law fully started.
Germanys Financial Authority (BaFin) gave the first approval, which Bitpanda announced in January. Later on, the company also went on to get a second license from Maltas MFSA, as shared on LinkedIn.
The MiCA law, which was established in 2020, is set out to help create a clear set of rules for guiding cryptocurrency across the EU. It was built to help guide service providers under one system, making it easier to work in different countries. The main goal of this law is for everyone (companies) to have equal rules in the crypto space.
Still, the platforms effort to collect different licenses shows that the company is thinking ahead and understands that there may be differences in how each country applies the law. Even though the idea is to make everything uniform, firms like Bitpanda seem to find it necessary to apply in many places.
As of now, the main regulators in Austria, Germany, and Malta have not shared any public lists to show which businesses have received MiCA approvals.
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Read more: https://www.tronweekly.com/bitpanda-secures-its-third-mica-license-from-austrian-regulator/
Text source: TronWeekly
