BitPanda Expands in Europe with Norwegian Virtual Asset Service Provider License
Summary:
Vienna-based cryptocurrency exchange BitPanda has received a virtual asset service provider license in Norway, marking its expansion in Europe. BitPanda already holds licenses in Austria, Germany, France, the Czech Republic, and Sweden. Meanwhile, crypto exchanges continue to face regulatory challenges in Europe, with New York-based Gemini exiting the Netherlands for failing to meet regulatory demands. The UK's Financial Conduct Authority also recently added 143 entities to its list of non-registered asset providers.
BitPanda, one of Europe's biggest cryptocurrency exchanges located in Vienna, has become one of the initial overseas firms to earn a license as a virtual asset service provider in Norway. This news emerged via the corporation's official X (previously Twitter) account on October 19. BitPanda is licensed in several European areas, including Austria, Germany, France, the Czech Republic, and Sweden. Bitpanda's Deputy CEO, Lukas Enzersdorfer-Konrad, stated that this accreditation signifies another milestone in their European advancement: "It's clear that we need a reliable investment platform in Europe. Bitpanda aims to fill that role. Over the past year, we've been the sole European provider to acquire licenses in Germany, Sweden, and Norway. We currently boast over 4 million users and empower leading financial organizations and neobanks in Europe to provide digital assets." As of May 2023, Norway, which is not a part of the European Union, has indicated it might pursue its course on cryptocurrency asset regulation. In its yearly report, the country's Central Bank claimed that the forthcoming comprehensive EU Markets in Crypto Assets (MiCA) regulation “might not sufficiently cater to all crypto regulatory requirements." In related news, other major crypto exchanges continue to face difficulties with European regulators. In September, New York-headquartered Gemini decided to depart the Netherlands, pointing to its failure to comply with regulatory demands. The challenges are not confined to the European Union's jurisdiction; the UK's financial market regulator, the Financial Conduct Authority (FCA), recently added 143 new entities to its warning list of non-registered asset providers. Stay tuned for updates about Ethereum restaking - is it a groundbreaking blockchain innovation or a perilous house of cards?
Published At
10/19/2023 12:04:12 PM
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