Bitpanda Fined €70k for MiCA Violations

Austria's financial regulator has fined crypto platform Bitpanda €70,000 for violating the European Union's Markets in Crypto-Assets Regulation (MiCA).

The Austrian Financial Market Authority (FMA) found that Bitpanda failed to submit a white paper for its crypto-assets at least 20 working days before publication, as required under MiCA.

The regulator also discovered that Bitpanda distributed marketing communications that lacked mandatory disclosures, including a telephone number and email address.