Austrian cryptocurrency company Bitpanda has received a license under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This was announced on January 27, 2025. The license, issued by Germany’s Federal Financial Supervisory Authority (BaFin), allows Bitpanda to operate across all 27 EU member states under one unified set of regulations.
MiCA is a set of rules created by the EU to regulate cryptocurrencies and related businesses. It aims to provide clear guidelines for companies and ensure a safer environment for investors. The framework became fully effective on December 30, 2024. Bitpanda is the second company to receive this license from BaFin, following Boerse Stuttgart Digital Custody on January 17, 2025.
With this license, Bitpanda can offer its services across the EU without needing separate approvals from each country. This helps streamline operations and builds trust with users. However, enforcing these regulations is crucial to their success, according to Bitpanda’s CEO, Eric Demuth.
Bitpanda CEO Feels the Need for Strong Enforcement
Eric Demuth stressed that for MiCA to work effectively, consistent enforcement across the EU is essential. He pointed out the risk of some companies ignoring the rules, especially those based outside the EU. This could create unfair competition for firms that comply with the regulations.
“Without proper enforcement, the rules could become meaningless,” Demuth said. He urged the EU to ensure resources and commitment are available to hold all companies accountable.
EU Needs to Learn from the US
Demuth also highlighted how quickly the United States is positioning itself as a global leader in the crypto industry. He suggested that the EU could learn from the U.S. approach, where regulators enforce rules on companies offering services to American customers, regardless of where they are based.
The internet has no national borders, and the EU should be confident enough to enforce its rules in a similar way.
he added.
With its new MiCA license, Bitpanda joins other regulated firms like Boerse Stuttgart Digital Custody. Recently, OKX, the cryptocurrency exchange, has received pre-authorization for a MiCA license from the Malta Financial Services Authority (MFSA) on Jan. 22. This pre-authorization shows that OKX has passed the initial review process and is now eligible to receive a full license under the EU’s Markets in Crypto-Assets (MiCA) regulation.
