Austria’s government has fined Bitpanda the equivalent of $81,150 U.S. for breaches of the European Union’s Markets in Crypto-Assets (MiCA) regulations.
It is the first fine doled out as part of MiCA enforcement actions in Europe
Bitpanda is a privately held Austrian crypto investment and trading platform founded in 2014. According to Austrian authorities, Bitpanda failed to submit a cryptocurrency white paper at least 20 working days before publishing it. More From Cryptoprowl: Bitpanda also circulated a marketing communication before publishing the required white paper, says Austria’s government.
This violated MiCA rules, resulting in the fine being issued. For its part, Bitpanda says that it has rectified the issue after Austrian authorities raised them and that it chose a “swift, consensual conclusion” to the matter. MiCA is the European Union’s legal framework for the crypto industry.