Bitpanda fined €70,000 by Austrian regulator under MiCA

The Austrian Financial Market Authority (FMA) has imposed a €70,000 fine on the digital asset platform Bitpanda. This marks the first published penalty issued under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.

The regulator cited several violations, specifically noting that Bitpanda failed to submit a required crypto-asset white paper to the FMA at least 20 working days prior to its publication, violating Article 8 of MiCA. Additionally, the firm disseminated marketing communications without having previously published the necessary white paper, which is a breach of Article 7. Under MiCA regulations, entities offering crypto-assets to the public must submit and publish a white paper before any related marketing materials are released.