Austrian fintech firm Bitpanda has secured its third regulatory approval under the European Union’s Markets in Crypto-Assets Regulation (MiCA), solidifying its position as one of the few crypto companies to hold multiple licenses. This latest achievement follows approvals from regulators in Germany and Malta. 📚 However, Bitpanda’s approach to obtaining these licenses raised eyebrows about the consistency with which MiCA is being interpreted across European countries. 🤨
MiCA, implemented on December 30th, 2024, aims to unify crypto regulations across the EU through a single licensing framework for Crypto Asset Service Providers (CASPs). However, Bitpanda’s multiple licenses highlight a lack of an overarching EU registry for MiCA-approved firms. Neither BaFin, the FMA nor MFSA have published a public database detailing which companies currently hold MiCA licenses. 🕵️♀️
Bitpanda obtained its first MiCA license in Germany with BaFin’s approval back in January, followed by Malta’s Financial Services Authority (MFSA), and now the Austrian FMA.
Despite the aim of streamlining crypto licensing under MiCA, Bitpanda’s approach highlights the current inconsistency in the implementation of the framework across national regulators. The absence of a central EU registry for these licenses raises questions about how effectively the regulatory framework is being applied.
Bitpanda has not yet commented on the rationale behind its decision to acquire multiple licenses in different countries.