Bitpanda fined €70,000 in Austria’s first published MiCA enforcement case
The fine stems from Bitpanda failing to submit a mandatory white paper 20 days before publication and omitting required disclosures in marketing materials.
Austria’s Financial Market Authority has fined crypto exchange Bitpanda €70,000 for failing to comply with the EU's Markets in Crypto-Assets (MiCA) regulation. Bitpanda was found to have published a cryptocurrency white paper without the required 20 working days' notice and circulated marketing communications before the white paper was published.
The regulator also noted that the communications did not include a statement that the document had not been reviewed or approved by regulators, nor did they include a contact number or email address. Bitpanda has stated that the issues were related to timing and formal specifications surrounding the publication of the whitepaper and an accompanying information document, and that they have since addressed these concerns.
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