Austrian Fintech Unicorn Bitpanda Secures MiCA License to Operate Across Europe

Table of Contents

Austrian fintech company Bitpanda has made headlines as the latest cryptocurrency firm to obtain a license under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.

The license, granted by Germany’s Federal Financial Supervisory Authority (BaFin) on Jan. 23, 2025, allows Bitpanda to operate seamlessly across all 27 EU member states under a unified regulatory regime.

This milestone positions Bitpanda as only the second crypto asset service provider (CASP) to receive a BaFin-issued MiCA license since the regulation came into full effect on Dec. 30, 2024. Boerse Stuttgart Digital Custody was the first to secure the license just days earlier, on Jan. 17.

Enforcing MiCA: A Test of Europe’s Commitment to Regulation

Bitpanda’s co-founder and CEO, Eric Demuth, underscored the importance of robust enforcement for MiCA to succeed in creating a stable and competitive regulatory environment. “Without consistent and robust enforcement, this legislative milestone risks being ineffective,” Demuth stated, emphasizing that non-compliance by foreign firms could undermine compliant European companies.

Also read: David Sacks: Innovator in Tech Entrepreneurship

Demuth also called on European lawmakers to bolster their regulatory stance to remain competitive globally, citing the United States as a leader in regulatory innovation. “The US is setting new benchmarks by treating any company with American customers as subject to their regulatory measures. The EU should be self-confident to do the same,” he remarked.

MiCA: A Catalyst for Crypto Adoption?

While MiCA aims to foster greater adoption of crypto in the EU, Demuth cautioned that regulation itself does not inherently accelerate growth. Instead, he urged EU policymakers to learn from the US’s approach to balancing regulation with innovation, ensuring Europe remains competitive as a global crypto hub.

Also read: Grok vs ChatGPT: A Comprehensive Comparison

Bitpanda’s achievement demonstrates the growing momentum behind MiCA’s implementation and sets the stage for further regulatory milestones in Europe. The firm’s compliance with MiCA signifies a broader commitment to legitimizing and mainstreaming cryptocurrency operations within the EU.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

View all posts