Bitpanda Slammed with €70k Fine by Austria Over MiCA Compliance Lapses

Austria's Financial Market Authority (FMA) has fined Bitpanda €70,000 for breaching several rules under the European Union's Markets in Crypto-Assets (MiCA) regulatory framework. The violations involved delays in submitting a required crypto-asset whitepaper and distributing marketing material before its publication.

The FMA found that Bitpanda missed the 20-day deadline to submit its whitepaper, as well as distribute marketing material that lacked necessary disclosures and contact information. These omissions are in line with Article 7 of the MiCA regulation.

Despite these breaches, Bitpanda retains its MiCA authorization across Europe. The company holds a license granted by German regulator BaFin for services within the European Economic Area and was separately authorized by Austria's FMA to provide several regulated crypto services.