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Gungun Bhatia
Nov 22, 2022
by Gungun Bhatia

Bitpanda's Local Subsidiary Acquires German Crypto License

Bitpanda German License

Table of contents

  1. Bitpanda Acquired German Crypto License
  2. EU to Control Crypto Issuers and Operators
Bitpanda, an Austrian exchange, announced Tuesday that its local branch acquired a cryptocurrency license in Germany. According to Bitpanda co-founder and Chief Executive Officer Eric Demuth, the German crypto license took months to develop.

Bitpanda Acquired German Crypto License

Bitpanda Asset Management GmbH claimed in a news release that it may now autonomously offer cryptocurrency custody and proprietary trading for cryptocurrency assets for German citizens due to the license from the German Federal Financial Supervisory Authority (BaFin).

Furthermore, Bitpanda would be able to keep an order book and actively offer services for digital currencies, helping to generate a secure and regulated environment for German consumers to participate in a diverse variety of cryptocurrencies, the business stated.

EU to Control Crypto Issuers and Operators

The crypto business is still suffering from its most recent blow, the collapse of the massive crypto exchange FTX, and authorities globally are keenly monitoring it. The European Union, of which Germany is a part, just completed its extensive framework for controlling cryptocurrency producers and network operators seeking to operate in any of the 27 member nations of the trade union.

The European Union's Markets in Crypto Assets (MiCA) should be the worldwide standard for cryptocurrency regulation, according to Stefan Berger, the German legislator in charge of guiding the legislative proposals through the European Parliament after FTX declared bankruptcy in the United States.

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European Union bitpanda cryptocurrency license German Federal Financial Supervisory Authority (BaFin germany crypto exchange germany currency crypto wallet in germany german cryptocurrency companies
Bitpanda's Local Subsidiary Acquires German Crypto License
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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