Austria’s financial regulator has fined crypto platform Bitpanda €70,000 ($82,000) for violating the European Union’s Markets in Crypto-Assets Regulation (MiCA), marking the country’s first published final penalty under the new crypto framework.
The Austrian Financial Market Authority (FMA) said Bitpanda failed to submit a crypto-asset white paper at least 20 working days before its publication, as required under the MiCA.
The platform also distributed marketing communication before the required whitepaper was published. FMA said another marketing communication failed to include several mandatory disclosures.
These included a statement that the communication had not been reviewed or approved by a competent authority and that the crypto-asset provider was solely responsible for its contents. The communication also lacked the required telephone number and email address.
The case was concluded through an expedited procedure, and the penalty decision is final. The FMA linked the violations to several provisions of EU Regulation 2023/1114, including rules covering whitepaper filing deadlines and marketing disclosures.
Bitpanda Calls Violation Procedural
Bitpanda said the regulator’s findings were limited to the timing and formal requirements surrounding its whitepaper and an accompanying information document.
“For the token launch in question, we prepared a comprehensive whitepaper in accordance with MiCAR requirements, submitted it to the FMA, and continuously coordinated the entire process with the authority,” Bitpanda said. “The points cited related exclusively to timing and formal specifications surrounding the publication of the whitepaper and an accompanying information document.”
Bitpanda submitted the whitepaper in early 2025, according to the company, and corrected the issues after the FMA raised them. The firm also chose what it described as a “swift, consensual conclusion” to the proceedings instead of contesting the fine.
The company emphasized that the violations did not affect customer funds or platform security and that customers suffered no financial harm. Bitpanda said the issues were addressed after it received notice from the regulator.
The penalty comes as Bitpanda continues to expand across Europe and other financial markets.
The Vienna-based broker ended 2025 with 7.4 million registered users, up 25% from the previous year, and reported €371 million in adjusted revenue.
It has also expanded its services in trading, custody and tokenization infrastructure.
Bitpanda holds a MiCA license issued by Germany’s Federal Financial Supervisory Authority (BaFin), allowing it to serve customers across the European Economic Area.
Austria’s FMA separately authorized Bitpanda GmbH in April 2025 to provide crypto services including custody, exchange and order execution.
Why the Fine Matters for Crypto Firms
The €70,000 penalty is relatively small compared with Bitpanda’s revenue scale, but its importance extends beyond the amount.
The case gives other crypto companies an early example of how Austrian authorities may enforce MiCA in practice. FMA’s action shows that compliance under MiCA goes beyond obtaining authorization.
Companies must also follow detailed requirements for whitepaper submissions, marketing materials, disclosures, and regulatory deadlines.
For Bitpanda, the case was resolved quickly after the company corrected the issues and cooperated with the regulator. To the wider crypto industry, however, the message is clear: procedural mistakes can still lead to formal enforcement.
As MiCA continues to establish a common regulatory framework across the European Union, the Bitpanda case could serve as an early warning to other crypto platforms that even seemingly administrative requirements must be handled carefully.
