Austria’s Financial Market Authority (FMA) has fined Bitpanda GmbH €70,000 for breaching several requirements under the European Union’s Markets in Crypto-Assets Regulation, marking Austria’s first published penalty under MiCA.
The regulator found that Bitpanda failed to meet rules covering the submission and publication of a crypto-asset white paper and the content of its marketing communications, and it resolved the case through an expedited procedure under Section 22(2b) of the FMA Act (FMABG).
The penalty decision is legally binding, and the FMA published it as the first sanction issued under the MiCA framework in the country. Bitpanda, the Vienna-based retail broker that operates across the European Economic Area, is among the more heavily licensed crypto firms in the bloc.
Bitpanda’s White Paper Breach
Under MiCA, a firm offering a crypto-asset to the public or seeking its admission to trading must file a white paper with its national regulator and publish it beforehand, giving investors standardised disclosures about the asset and its issuer.
Bitpanda failed to submit its white paper to the FMA at least 20 working days before publishing it, contrary to Article 8(1) and (5) of MiCA. The company also distributed a marketing communication before publishing the required white paper, which breached Article 7(2).
The FMA found that the same marketing communication omitted information required under MiCA, including a statement that no competent authority had reviewed or approved the material and that the provider alone was responsible for its contents. The communication also failed to include a telephone number and email address that the regulation requires.
MiCA provides a common regulatory framework for crypto-asset markets across the European Union, with rules designed to support investor protection and market integrity. The decision against Bitpanda comes after the company secured its Austrian MiCA licence in April 2025, following earlier approvals in Germany and Malta, giving it three MiCA licences across the bloc.
The company has since expanded its regulated product offering in Europe, adding the MiCA-compliant USDG stablecoin through the Global Dollar Network in February. Bitpanda made USDG available for trading, deposits and withdrawals to its European users, adding another stablecoin option to its platform.
Austria’s MiCA Enforcement Tightens
Austria has continued to act against firms operating under the new regulatory regime. In February, the FMA restricted KuCoin EU from onboarding new customers and launching new business after the company lost key personnel responsible for anti-money laundering, terrorist financing prevention and financial sanctions compliance, demonstrating that MiCA supervision continues after firms receive authorisation.
The FMA later granted WhiteBIT a MiCA authorisation in June, allowing the exchange to offer crypto services across the European Economic Area shortly before the EU’s MiCA transition deadline. The approval added to Austria’s growing role as a jurisdiction for crypto firms seeking access to the European market, according to a report on the approval.
The Bitpanda penalty turns that regulatory expansion into formal enforcement and shows that authorised firms must continue meeting MiCA’s requirements on disclosures, marketing communications and other operational obligations.