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Bitpanda Secures EU's MiCA License, Paving Way for Crypto Expansion

Coin WorldMonday, Jan 27, 2025 12:25 pm ET

1min read

Bitpanda, a leading European cryptocurrency exchange, has secured the Markets in Crypto-Assets (MiCA) license, becoming the latest firm to obtain regulatory approval under the EU's new crypto framework. The MiCA license introduces a single regulatory regime for the crypto industry in Europe, addressing long-standing challenges related to fragmented rules across countries.

The MiCA framework provides licensing clarity, standardizes rules for crypto service providers, and prohibits reverse solicitation, requiring non-EU firms to secure an EU license before offering services. Bitpanda's leadership emphasized the significance of this milestone, with Deputy CEO Lukas Enzersdorfer-Konrad stating that the license aligns with the company's commitment to regulatory compliance and will drive adoption and growth in European markets. CEO Eric Demuth added that the license enables the platform to offer regulated investment services to a broader audience across the EU.

The MiCA license removes the need for individual country-specific approvals, reducing operational complexities for Bitpanda. The framework also enhances investor protections by introducing stricter obligations on crypto firms to prevent malpractice. With the new license, Bitpanda plans to scale its retail and institutional services across the EU, taking advantage of the harmonized regulatory environment to expand its offerings and user base.

Founded in 2014, Bitpanda has grown its user base from 1 million in 2019 to 6 million by December 2024. The company holds 17 licenses, including PSD2 and MiFID II, and offers a range of products spanning cryptocurrencies, stocks, and commodities. The MiCA license is a significant step forward for Bitpanda and the broader crypto industry in Europe, as it paves the way for increased regulatory clarity and investor protection.

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