Vienna-based crypto alternate Bitpanda has secured a
digital asset service supplier (VASP) license in Norway because it continues its growth
in Europe. With the addition of Norway to its record of regulated markets,
Bitpanda has strengthened its presence within the area. The corporate holds
licenses in Austria, Germany, Czechia, France, and Sweden.
In an announcement posted on X (previously Twitter), the
firm mentioned: “We’re very excited to announce that we have change into the primary
non-local agency to be granted a VASP license in Norway. This newest license
additional solidifies our place as Europe’s most regulated dealer and can
permit us to deliver protected and safe digital belongings buying and selling to hundreds of thousands of recent
clients.”
Notably, this licensing achievement in Norway is
vital as a result of the nation stands outdoors the European Union. In Might, the
central financial institution of Norway indicated that it won’t depend on the pan-EU Markets
in Crypto-Property (MiCA) regulation, saying it was insufficient for its particular
regulatory wants, Cointelegraph reported.
Hei På Deg Norway!We’re very excited to announce that we’ve change into the primary non-local agency to be granted a VASP licence in Norway. This newest licence additional solidifies our place as Europe’s most regulated dealer and can permit us to deliver protected and safe digital belongings… pic.twitter.com/jIVAMd1QxB
— Bitpanda (@Bitpanda_global) October 19, 2023
BitPanda has been constant in its efforts to
get hold of regulatory licenses in Europe. In Germany, the corporate registered as a crypto custody service and proprietary buying and selling supplier final yr. Its native
department, Bitpanda Asset Administration GmbH, permits the crypto alternate to supply
providers to German merchants and traders, additional diversifying its providers.
Preserve Studying
Moreover, Bitpanda expanded its attain and regulatory standing by acquiring a crypto license in Spain final yr. Its entry into the Spanish market occurred when a number of
cryptocurrency exchanges had been making concerted efforts to safe regulatory
licenses in Europe. The transfer into the Spanish crypto market was introduced
by the Financial institution of Spain.
Increasing Crypto Providers in Europe
Bitpanda’s world affect extends past Europe.
Final yr, the corporate entered the UK by buying Trustology, a
regulated institutional cryptocurrency custodian pockets supplier. This
acquisition concerned rebranding Trustology to Bitpanda Custody. It enabled the
firm to strengthen its plans to increase crypto brokerage providers into new
areas.
Nonetheless, this transfer attracted regulatory consideration,
because the Monetary Conduct Authority (FCA) issued a warning, expressing its
vigilance over the acquisition. The FCA famous that since Trustology was registered
below Cash Laundering Rules, the regulator can’t assess compliance with the platform’s providers below the brand new possession, Finance Magnates reported.
Vienna-based crypto alternate Bitpanda has secured a
digital asset service supplier (VASP) license in Norway because it continues its growth
in Europe. With the addition of Norway to its record of regulated markets,
Bitpanda has strengthened its presence within the area. The corporate holds
licenses in Austria, Germany, Czechia, France, and Sweden.
In an announcement posted on X (previously Twitter), the
firm mentioned: “We’re very excited to announce that we have change into the primary
non-local agency to be granted a VASP license in Norway. This newest license
additional solidifies our place as Europe’s most regulated dealer and can
permit us to deliver protected and safe digital belongings buying and selling to hundreds of thousands of recent
clients.”
Notably, this licensing achievement in Norway is
vital as a result of the nation stands outdoors the European Union. In Might, the
central financial institution of Norway indicated that it won’t depend on the pan-EU Markets
in Crypto-Property (MiCA) regulation, saying it was insufficient for its particular
regulatory wants, Cointelegraph reported.
Hei På Deg Norway!We’re very excited to announce that we’ve change into the primary non-local agency to be granted a VASP licence in Norway. This newest licence additional solidifies our place as Europe’s most regulated dealer and can permit us to deliver protected and safe digital belongings… pic.twitter.com/jIVAMd1QxB
— Bitpanda (@Bitpanda_global) October 19, 2023
BitPanda has been constant in its efforts to
get hold of regulatory licenses in Europe. In Germany, the corporate registered as a crypto custody service and proprietary buying and selling supplier final yr. Its native
department, Bitpanda Asset Administration GmbH, permits the crypto alternate to supply
providers to German merchants and traders, additional diversifying its providers.
Preserve Studying
Moreover, Bitpanda expanded its attain and regulatory standing by acquiring a crypto license in Spain final yr. Its entry into the Spanish market occurred when a number of
cryptocurrency exchanges had been making concerted efforts to safe regulatory
licenses in Europe. The transfer into the Spanish crypto market was introduced
by the Financial institution of Spain.
Increasing Crypto Providers in Europe
Bitpanda’s world affect extends past Europe.
Final yr, the corporate entered the UK by buying Trustology, a
regulated institutional cryptocurrency custodian pockets supplier. This
acquisition concerned rebranding Trustology to Bitpanda Custody. It enabled the
firm to strengthen its plans to increase crypto brokerage providers into new
areas.
Nonetheless, this transfer attracted regulatory consideration,
because the Monetary Conduct Authority (FCA) issued a warning, expressing its
vigilance over the acquisition. The FCA famous that since Trustology was registered
below Cash Laundering Rules, the regulator can’t assess compliance with the platform’s providers below the brand new possession, Finance Magnates reported.
