Bitpanda Secures EU's MiCA License: A Step Towards Unified Crypto Regulation

Bitpanda, an Austrian fintech unicorn, has secured a license under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This significant achievement allows the company to offer its services across all 27 EU member states under a unified regulatory regime. The license was granted by Germany’s Federal Financial Supervisory Authority (BaFin), making Bitpanda the second crypto asset service provider (CASP) to receive a MiCA license from BaFin, following Boerse Stuttgart Digital Custody.

Bitpanda’s CEO and co-founder, Eric Demuth, expressed his excitement about this milestone but also raised concerns about the enforcement of MiCA across the EU. While MiCA provides a solid regulatory framework, Demuth emphasized the importance of consistent application and rigorous enforcement to ensure its effectiveness. He highlighted the risk of foreign crypto service providers operating outside the regulatory scope, which could undermine the efforts of companies like Bitpanda that are committed to complying with European laws.

Demuth also acknowledged the global pace of crypto regulation, particularly in the United States, and expressed a desire for Europe to step up its regulatory efforts to match this pace. He recognized the US’s positioning as a global hub for the crypto sector and emphasized the need for Europe to keep up with the global trends in crypto regulation.