Bitpanda Slapped with €70,000 Fine for MiCA Non-Compliance

Austria's Financial Market Authority (FMA) has fined Bitpanda €70,000 for non-compliance with the EU's Markets in Crypto-Assets Regulation (MiCA).

This is the first published enforcement case under MiCA, which was implemented in January 2023. The regulation aims to regulate cryptocurrency and other digital assets across the European Union.

Bitpanda, a Vienna-based digital asset platform, has agreed to pay the fine and implement the necessary measures to comply with MiCA regulations.