Foresight News reports, citing CoinDesk: the Austrian Financial Market Authority (FMA) announced a €70,000 (about $81,150) fine against Bitpanda GmbH for violating the EU (Markets in Crypto-Assets Regulation) (MiCA). It is the regulator’s first enforcement action issued under MiCA. The FMA said that Bitpanda failed to submit the cryptocurrency white paper at least 20 business days before publishing it, and had published related marketing materials prior to submitting the white paper. In addition, one promotional material omitted a statement that the document had not been reviewed or approved by the regulator and that the issuer bears responsibility for the content, as well as the phone and email contact information.

Bitpanda responded that the relevant issues only concern the release time and format specifications of the prospectus and the accompanying information documents. It communicated with the FMA throughout the process, completed the rectification after the regulator pointed it out, and chose to resolve the case through a quick settlement. The fine was issued through the simplified procedure under the Austrian Financial Market Authority Act, as the final decision.