Bitpanda fined €70,000 by Austrian regulator over MiCA breaches
Austria has fined Bitpanda €70,000 ($82,000) for breaches of the European Union‘s Markets in Crypto-Assets Regulation, making the case the Austrian regulator’s first published final penalty under MiCA. The Austrian Financial Market Authority said Friday that Bitpanda failed to submit a required crypto-asset white paper at least 20 working days before publishing it, while separate breaches involved marketing material released before or without disclosures required under the EU rules. Bitpanda MiCA fine covers white paper and marketing breaches Under the FMA‘s findings, one violation concerned the timing of Bitpanda’s crypto-asset white paper. MiCA requires the document to be submitted to the relevant national regulator at least 20 working days before it is made public. Bitpanda did not meet that deadline, according to the authority. The company also distributed a marketing communication before the required white paper had been published. Marketing requirements formed another part of the case. The regulator said a separate communication did not contain mandatory wording making clear that the material had not been reviewed or approved by a competent authority. The same communication also failed to state that the crypto-asset provider was solely responsible for its contents, according to the FMA. Required contact information was incomplete as well, with both a telephone number
