Bitpanda Fined 70,000 Euros in Austria's First Published MiCA Penalty
Austria's Financial Market Authority penalised Bitpanda for white paper and marketing breaches under the EU's MiCA rules, the country's first published final penalty.
AfroEuropa Newsroom
AfroEuropa desk
Austria's financial regulator, the Financial Market Authority (FMA), has fined crypto platform Bitpanda 70,000 euros (about $82,000) for breaching the European Union's Markets in Crypto-Assets Regulation (MiCA). According to BitKE, it is the country's first published final penalty under the framework.
The FMA said Bitpanda did not submit a required crypto-asset white paper at least 20 working days before publishing it. The company also distributed marketing material before the white paper was published. Another marketing communication lacked mandatory disclosures stating that it had not been reviewed or approved by a regulator and that Bitpanda was responsible for its contents, and it omitted required contact details.
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