Bitpanda fined in Austria’s first published MiCA penalty

Austria’s financial regulator has fined crypto platform Bitpanda 70,000 euros ($82,000) for violating the European Union’s Markets in Crypto-Assets Regulation, in the watchdog’s first published final penalty under MiCA.The Austrian Financial Market Authority (FMA) said Friday that Bitpanda failed to submit a crypto-asset white paper to the regulator at least 20 working days before its publication, as required under MiCA.Bitpanda also distributed a marketing communication before publishing the required white paper, according to the regulator.The FMA said another marketing communication omitted mandatory disclosures stating that it had not been reviewed or approved by a competent authority and that the crypto-asset provider was solely responsible for its contents. It also lacked a required telephone number and email address.The proceedings were concluded under an expedited procedure, and the penalty decision is final.Cointelegraph contacted Bitpanda for comment but did not immediately receive a response.MiCA established a harmonized regulatory framework for crypto assets across the EU, including disclosure, marketing and authorization requirements for crypto companies.Related: Sloven...