Latest news with #Bitpanda
Yahoo
4 days ago
- Business
- Yahoo
Crypto Exchange Bybit Granted MiCA License in Austria
Crypto exchange Bybit has been granted a license in Austria in compliance with Europe's framework for dealing in digital assets, the Markets in Crypto Assets (MiCA) regime, according to the website of the local regulator FMA. Europe's new MiCA rules came into force at the start of this year, prompting firms to select the most appropriate member state to base operations and passport services across the 27-country trading block. Austria is also the MiCA home base of crypto trading firm Bitpanda which also holds a licence in Germany. Founded in 2018 by entrepreneur Ben Zhou, Bybit, which has risen to become the second largest exchange by volume according to CoinMarketCap, is based in Dubai having moved its headquarters from Singapore in 2022. In February 2025, the exchange was hacked resulting in the loss of $1.5 billion in assets in the largest cryptocurrency theft on record. Bybit did not immediately respond to requests for comment.
CNBC
08-05-2025
- Business
- CNBC
Bitpanda CEO says Donald Trump is forcing Europe to unite again
Eric Demuth, the CEO of Bitpanda, discusses his expectations for the new German government, the crypto industry in Europe, and more at the Tegernsee Summit in Bavaria.
Yahoo
08-05-2025
- Business
- Yahoo
Fed vs. ECB: More Rate Cuts?
Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad joins CoinDesk to discuss the state of crypto in Europe under the impact from previous ECB rate cut decisions and the MiCA regulatory framework. Plus, he weighs in on Bitpanda's recent partnership with FC Basel 1893 and the intersection between sports and crypto. This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
06-05-2025
- Business
- Finextra
Crypto License Choices in 2025: EU Stability or Global Flexibility?: By Yuliya Barabash
As regulations tighten and governments show increasing interest in building Bitcoin reserves, more companies are turning to jurisdictions that maintain a supportive stance on digital assets, offering clear guidelines without excessive red tape. In this article we explore key licensing issues for crypto businesses in 2025. We assess the new EU landscape under the Markets in Crypto Assets (MiCA) regulation and consider promising alternatives such as El Salvador, Argentina, Bosnia and Herzegovina, and Seychelles, as well as unlicensed options in Panama and Costa Rica. European Union: The MiCA Era Since January 2025, the European Union (EU) has enforced the MiCA regulation, unifying requirements for Crypto-Asset Service Providers (CASPs) across all member states, replacing previously fragmented local regimes. It's important to note that failure to comply with MiCA requirements may result in significant penalties within the EU. Fines depend on the nature of the violation and are determined by each member state Examples: Czech Republic: Up to CZK 16,587,000 (~€661,000) for providing crypto services without a license. Lithuania: Up to €5 million or 5% of annual turnover for violations of Regulation (EU) 2023/1114; up to double the value of illegally earned revenue for unauthorized CASP activity. Malta: MFSA may impose fines up to double the amount of profits or losses avoided, with caps of €700,000 for individuals and €5 million or 5% of turnover for legal entities. Companies that operated as CASPs before 2025 benefit from a transitional period, allowing continued operation while awaiting license approval. This period is capped at 18 months and varies per country. Entities registered before December 30, 2024, as Virtual Asset Service Providers (VASPs) under FATF standards can also transition to the MiCA framework during 2025–2026. Licensed CASPs include: Boerse Stuttgart Digital (Germany) Bitpanda (Austria, Germany, Malta) MoonPay, BitStaete, FinTech ZBD, Hidden Road (Netherlands) OKX (Malta) MiCA requires all crypto companies serving EU clients to obtain CASP authorization—unless the client initiates contact with the company outside the EU, under the reverse solicitation rule. Reverse solicitation prohibits: SEO targeting EU regions Geo-targeted ads to EU users Websites in official EU languages without valid need Sponsoring EU events Redirecting EU users to a service provider's website If your target audience is in the EU, you must obtain a CASP license in your country of incorporation. Requirements to obtain CASP status: At least one EU-resident director A physical EU office with appropriate staffing Capital between €50,000 and €150,000 depending on service type Internal controls, conflict of interest management, AML/CFT policies Authorized CASPs can passport their services across all EU countries. Legal support includes: Preliminary business activity assessment Document preparation Step-by-step roadmap The licensing process can be costly—ranging from €30,000 to €60,000. DORA regulation also requires ICT security and stability, adding further compliance costs. In my opinion, while these expenses are significant, they are often seen as a necessary investment to ensure long-term legitimacy and security in the fast-evolving crypto space. However, it's important for businesses to carefully assess whether the benefits outweigh the costs, especially when exploring alternative jurisdictions with potentially lower fees and less stringent requirements. In my view, this seems accurate — it appears that only well-established companies with significant resources will be able to navigate the complexities of MiCA's regulations. Smaller players may struggle to keep up with the financial and compliance demands required by the framework. Estimated timeline: Document preparation: 2–3 months License issuance: ~6 months El Salvador: Bitcoin Hub and Tether's Choice El Salvador pioneered crypto regulation by legalizing Bitcoin in 2021 and adopting a digital asset issuance law in 2023. In 2025, Tether moved its headquarters there. Binance, Bitfinex, KoiPay, and GlobiancePay also operate in the country. Two license types: Bitcoin Service Provider (BSP) – issued by Central Bank (BCR) Digital Asset Service Provider (DASP) – registered with CNAD El Salvador has more relaxed requirements than MiCA regarding capital and operations. Advantages: Clear legislation and government support Fast DASP licensing process Responsive regulators Flexibility—shareholders can be non-residents Tax incentives—DASP-licensed companies are exempt from income tax DASP license requirements: Minimum two shareholders (clean legal standing) $2,000 capital Virtual address (physical office optional) Cybersecurity standards and external audit Bookkeeping and regular reporting AML/KYC compliance Procedure: Company registration CNAD DASP license Corporate account setup State authority registration (tax, social security, labor, finance) Duration: 3–6 months Cost: ~€25,000 From my perspective, El Salvador does offer a solid alternative to MiCA, but it's important to recognize that it demands both time and financial commitment to fully navigate its regulatory landscape. It's a viable option, but companies need to be prepared for the investment required. Argentina: Friendly to Crypto Startups In my view, this makes Argentina a very appealing option for new and growing crypto businesses. With fewer regulatory hurdles and lower expenses, it provides an excellent opportunity for startups looking to establish themselves without the heavy financial burden of more established jurisdictions. Crypto-fiat exchange, stablecoin issuance, and asset-backed tokens are permitted. On March 25, 2024, CNV mandated PSAVs (virtual asset service providers) to follow FATF AML/CFT rules and register in a national registry. Active platforms include: Binance Services Latinoamérica Coinbase ByBit Bit2Me Timeline: Up to 4 months (company registration, CNV and UIF filings) Bosnia and Herzegovina: EU Without MiCA Bosnia offers an option to stay in Europe while avoiding MiCA. VASP registration is possible in the Republic of Srpska. Benefits: Simple legal framework 10% fixed corporate tax Access to EU and local bank accounts Minimal capital, no physical office required Examples: DCX Exchange Adriatic Crypto Exchange Crypto Trading Management Servis Requirements: Personnel ~$580 capital Registered office and internal policies Accountant and tax reporting Timeline: ~4 months (each step ~1 month) In my opinion, this makes it an ideal choice for entrepreneurs looking to launch their crypto ventures quickly and cost-effectively. The simplicity and affordability of the process can provide a significant advantage for startups that need to move fast in a competitive market. Seychelles: Regulated Crypto Harbor Long a crypto hub due to light regulation, Seychelles adopted licensing rules in 2024—providing legal clarity while maintaining benefits. Requirements: Two directors (one local) Qualified staff, good standing Physical office and annual financial reporting Fees: €5,000 application €5,000 base annual €5,000–25,000 per business activity Timeline: 5–9 months Unlicensed Alternatives Companies not working with fiat can consider jurisdictions without mandatory crypto licensing. Costa Rica: No capital requirements One shareholder/director Territorial taxation (no tax on foreign income) No audit/reporting obligations Confidential registries Local bank account options Projects: SLEX Exchange, Pursa, Coinpay Panama: No capital requirement One shareholder, three directors (non-residents allowed) Territorial tax principle No mandatory AML/KYC Beneficial owner confidentiality Projects: Polymarket, Mantle Network, Meta Pool Registration is remote and takes under a week. From my point of view, unlicensed options offer a practical way to enter the crypto space with minimal risk and cost. They're especially useful for testing product-market fit or running MVPs before committing to a full regulatory setup. Conclusion When choosing a jurisdiction for a crypto business, consider: Legal framework Banking and financial infrastructure Taxation Licensing cost and duration If targeting the EU market, MiCA compliance is mandatory—demanding but trust-enhancing. CASP licensing is complex and costly, potentially reaching €250,000 with all operational expenses. To stay in Europe without MiCA, consider Bosnia. For global markets, El Salvador, Argentina, or Seychelles offer favorable laws and low entry barriers, though with prep time and budgets of €20,000–50,000. For non-fiat operations, Costa Rica and Panama are the most accessible. From my experience, trying to navigate the regulatory maze without support is a huge challenge — especially when you need to move quickly and focus on building your product. It's crucial to set up a solid legal strategy early on and choose a jurisdiction that works with you, not against you. Trust me, in these situations, going solo is risky. Always consult with professionals who can guide you through the process and help avoid mistakes that could cost you down the road.
Arabian Business
31-03-2025
- Business
- Arabian Business
Bitpanda secures VARA Licence, expands digital assets platform to UAE
The licence enables Bitpanda to offer its platform to UAE investors, providing access to over 500 virtual assets – claimed to be the most extensive offering available. 'Bitpanda is built on the principle that virtual assets should be secure and accessible. With our VARA licence, we are bringing that vision to the UAE, ensuring investors and financial institutions have access to a fully compliant digital asset platform. This is just the beginning of our expansion beyond Europe. We are ready to grow in a region that embraces innovation and regulation equally,' Lukas Enzersdorfer-Konrad, Deputy CEO at Bitpanda Group said. Bitpanda obtains broker-dealer licence from VARA, marks expansion into UAE digital assets market The company has established a permanent office at the DMCC Crypto Centre and assembled a team of regional experts to develop market-specific products. Investor onboarding is set to commence in the coming months. 'The UAE is one of the most forward-thinking markets for digital assets, and VARA sets a new standard for innovation and investor protection. This licence allows us to bring our trusted, regulated platform to a new audience. We obtained approval in record time and I believe that is a testament to the decade experience of our teams working in the digital asset space and our commitment to the highest regulatory standards,' Fabian Reinisch, General Counsel at Bitpanda Group added. Bitpanda brings a decade of regulatory experience to the UAE market, holding multiple licences across Europe, including: MiCAR licence from German regulator BaFin Registration with the UK's FCA PSD2 E-money licence MiFID II licence VASP registrations in multiple markets The company's regulatory-first approach has established it as a trusted platform for secure and compliant virtual asset investing. As part of its international expansion strategy, Bitpanda remains focused on delivering a regulated, secure, and seamless investment experience for both individual and institutional investors in the UAE.
