Austria's Financial Market Authority (FMA) fined crypto platform Bitpanda 70,000 euros (about $82,000) for breaches of the EU Markets in Crypto-Assets Regulation (MiCA). FMA called it the regulator's first published final penalty under MiCA.
FMA said Bitpanda failed to submit a crypto-asset white paper to the regulator at least 20 working days before its publication, as MiCA requires. The regulator also said Bitpanda distributed a marketing communication before publishing the required white paper.
FMA added that a separate marketing communication omitted mandatory disclosures stating the material had not been reviewed or approved by a competent authority and that Bitpanda was solely responsible for its contents. That communication also lacked a required telephone number and email address.
The case was concluded under an expedited procedure. FMA said the penalty decision is final.
Cointelegraph; Austrian Financial Market Authority (FMA)