April 19, 2024
Latest Cryptocurrency News

BitPanda Receives Virtual Asset License in Norway

Vienna-based BitPanda, one of the largest crypto exchanges in Europe, recently achieved a significant milestone by becoming one of the first foreign entities to obtain a virtual asset service provider license in Norway. This announcement was made through the company’s official X (formerly Twitter) account on October 19.

BitPanda holds licenses in various European countries, including Austria, Germany, France, the Czech Republic, and Sweden. Lukas Enzersdorfer-Konrad, the Deputy CEO of Bitpanda, expressed that this registration marks a significant advancement in the company’s expansion across Europe.

It is evident that Europe requires a trustworthy investment platform, and BitPanda has committed to being that platform. Over the past year, the platform has been the sole European provider to secure licenses in Germany, Sweden, and Norway. It serves over 4 million users and facilitates the integration of digital assets for Europe’s leading financial institutions and neobanks.

In May 2023, Norway, despite not being part of the European Union, signaled its intention to establish its own regulatory framework for crypto assets. The country’s Central Bank stated in its annual report that the forthcoming pan-EU Markets in Crypto Assets (MiCA) regulation might not adequately address all crypto regulatory requirements. This move comes as several major crypto exchanges grapple with regulatory challenges in Europe. For example, in September, the New York-based Gemini decided to withdraw from the Netherlands, citing its inability to meet regulatory demands. These issues extend beyond the European Union’s jurisdiction, as the United Kingdom’s Financial Conduct Authority (FCA) recently added 143 new entities to its warning list of unregistered asset providers.

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