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MiCA licence

Bitpanda Secures its Third MiCA License from Austrian Regulator

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  • Bitpanda has received its third MiCA license; this time around, it’s from Austria’s Financial Market Authority, making it the first fully approved cryptocurrency firm under the EU’s new law in Austria.
  • Despite MiCA aiming for a unified crypto framework across the EU, Bitpanda’s multiple licenses show that regulatory differences may still exist between member countries.

Bitpanda has now acquired its third MiCA license, this time from Austria’s FMA. This new approval would help the company grow its legal presence in Europe.

The company first shared the news on the 10th of April, saying that this new license adds to the other two from Germany and Malta. This step makes the platform the first business in Austria to be fully approved under the EU’s new crypto law.

The company added that this move has made it closer to becoming one of Europe’s top digital asset provider platforms. Users can now trust a platform checked by officials across many countries. Bitpanda said this means better safety for people and stronger rules for the industry at large.

Bitpanda Previous MiCA Acquisition Journey

The Vienna-based crypto platform, Bitpanda, was among the first crypto firms to get a MiCA license after the European Union’s new law fully started.

Germany’s Financial Authority (BaFin) gave the first approval, which Bitpanda announced in January. Later on, the company also went on to get a second license from Malta’s MFSA, as shared on LinkedIn.

The MiCA law, which was established in 2020, is set out to help create a clear set of rules for guiding cryptocurrency across the EU. It was built to help guide service providers under one system, making it easier to work in different countries. The main goal of this law is for everyone (companies) to have equal rules in the crypto space.

Still, the platform’s effort to collect different licenses shows that the company is thinking ahead and understands that there may be differences in how each country applies the law. Even though the idea is to make everything uniform, firms like Bitpanda seem to find it necessary to apply in many places.
As of now, the main regulators in Austria, Germany, and Malta have not shared any public lists to show which businesses have received MiCA approvals.

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Crypto.com Lands MiCA Approval, Unlocking Full EU Service Access

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  1. Crypto.com secures an in-principle MiCA licence, the first among major global crypto service providers.
  2. MiCA approval will allow Crypto.com to offer services across the EU under a new regulatory framework.
  3. The MoU with Dubai Islamic Bank focuses on expanding Crypto.com’s presence in the UAE and GCC region.

Crypto.com announces that it has received an in-principle approval for the Mica license for the Crypto Assets Markets (MiCA) and put up in the position of being the first crypto service provider to operate globally to have achieved this. This will enable the company to operate across Europe where there is a single regulatory regime for the provision of services.

MiCA stands out by bringing to the table clear and concise information as well as a strong and secure infrastructure that is catered to the needs of the business. With its continuous support for Mica, Crypt.com views it as a major foundation in establishing a security level in the crypto industry

What MiCA Means for Crypto.com

With the regulatory approval, the company is now confident that its services will have a higher degree of transparency and it will be able to expand even more by offering them throughout the EU. Through this license, the firm can now provide access to a wide range of crypto services, from trading to custodial offerings, while still aligning with the established MiCA regulations.

Eric Anziani, the president and COO of Crypto.com, stated that understanding the evolving regulatory environment is crucial for the company, and MiCA will not only be but also lead the game in molding a positive outlook towards industry regulation. Moreover, he stressed the company’s commitment to the EU as a responsible market for its ambitious expansion plans.

Expanding Crypto.com’s Global Presence

In addition to this important regulatory development, Crypto.com has been making moves to strengthen its position in the UAE and broader GCC region. Last month, Crypto.com has struck a strategic partnership with Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, as a strategic move to fortify its position in United Arab Emirates (UAE) and the broader Gulf Cooperation Council (GCC) region.

This unwavering partnership, which was cemented through a Memorandum of Understanding (MoU), represented a breakthrough in the gap between traditional Islamic banking and the expanding cryptocurrency field. Both sides of the alliance benefit from the bank’s experience in financing infrastructure and Crypto.com in its crypto to Fiat limitation sending money transfer.

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