Bitpanda Hit With a $82,000 Fine in Austria’s First Published MiCA Enforcement Case

TL;DR

• Bitpanda received a €70,000 fine from Austria’s FMA, marking the first sanctions case under the MiCA regulation in the country.
• The violation consisted of failing to submit the white paper at least 20 business days in advance and omitting mandatory disclosures in marketing materials.
• The company stated that the breaches were exclusively formal and procedural, that no client suffered financial harm, and that it remedied the situation immediately.

Austria’s financial markets regulator, the FMA, fined Bitpanda €70,000 for violations of the European regulation on crypto-asset markets, known as MiCA. This is the first sanctions case published under that regulatory framework in the country, and the amount is equivalent to approximately $82,000.

According to the FMA, the Vienna-based company did not submit the white paper for a crypto asset to the regulator at least 20 business days before its publication, as required by MiCA. The authority did not identify the token in question. Additionally, Bitpanda distributed a marketing communication before publishing the required white paper, constituting a second violation.

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