Bitpanda fined €70,000 by Austrian regulator over MiCA breaches

Austria has fined Bitpanda €70,000 ($82,000) for breaches of the European Union’s Markets in Crypto-Assets Regulation, making the case the Austrian regulator’s first published final penalty under MiCA. Summary Austria’s FMA fined Bitpanda €70,000 for breaches of MiCA disclosure and marketing rules. Bitpanda failed to submit a required crypto asset white paper at least 20 working days before publication. The company also distributed marketing material before the white paper was published and omitted mandatory disclosures and contact details. The penalty was completed through an expedited procedure and is the FMA’s first published final MiCA fine. The Austrian Financial Market Authority said Friday that Bitpanda failed to submit a required crypto-asset white paper at least 20 working days before publishing it, while separate breaches involved marketing material released before or without disclosures required under the EU rules. Bitpanda MiCA fine covers white paper and marketing breaches Under the FMA’s findings, one violation concerned the timing of Bitpanda’s crypto-asset white paper. MiCA requires the document to be submitted to the relevant national regulator at least 20 working ...