Bitpanda has become the first major crypto platform to secure the MiCAR (Markets in Crypto-Assets Regulation) license, granted by Germany’s Federal Supervisory Authority (BaFin).
This allows Bitpanda to expand its services across all EU member states under a unified regulatory framework.
The MiCAR license solidifies Bitpanda’s position as a leader in compliance and security within the crypto space, allowing it to offer services in 27 countries with one license. The new regulation introduces clear rules for crypto asset service providers, minimizing fragmentation and ensuring transparency and accountability in the market.
Eric Demuth, Bitpanda’s CEO, highlighted the significance of the license, stating that it sets a new standard for the crypto industry in Europe, opening up vast growth potential. This achievement comes as Bitpanda continues its rapid growth, expanding its user base from 1 million in 2019 to 6 million in 2024.
MiCAR’s introduction aims to clarify the European crypto market by providing legal certainty for crypto assets and protecting investors from unethical practices. Bitpanda, with its 17 licenses, including MiFID II and PSD2 E-money, is positioned as a highly regulated and trusted platform. The MiCAR license ensures a secure trading environment for customers, requiring no immediate changes for them. This regulatory milestone allows Bitpanda to expand its offerings and solidify its status in the European crypto market.
This report aligns with the broader trend of regulatory developments. Recently, HashKey Group’s subsidiary in the MENA region received conditional approval for a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This license allows HashKey MENA FZE to offer Virtual Asset Exchange and Broker-Dealer Services to various investors. The approval is expected to enhance HashKey OTC’s regulated regional activities. VARA aims to ensure strong regulations and protect investors while maintaining Dubai’s competitive edge in the digital economy. HashKey must fulfil all requirements to obtain the official VASP license.
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