The fine stems from Bitpanda failing to submit a mandatory white paper 20 days before publication and omitting required disclosures in marketing materials.
The firm told CoinDesk in an emailed statement the regulator’s findings “related exclusively to timing and formal specifications surrounding the publication of the whitepaper and an accompanying information document.”
For the token launch in question, we prepared a comprehensive whitepaper in accordance with MiCAR requirements, submitted it to the FMA, and continuously coordinated the entire process with the authority,” Bitpanda said. “The points cited related exclusively to timing and formal specifications surrounding the publication of the whitepaper and an accompanying information document.”
The white paper was submitted early last year, the firm told CoinDesk.
The move targets one of Europe’s largest crypto brokers. Bitpanda ended 2025 with 7.4 million registered users, up 25% from a year earlier, and 371 million euros in adjusted revenue. The Vienna-based company has been expanding outside Europe by providing trading, custody and tokenization infrastructure to banks and fintech companies.
Bitpanda secured a MiCA license from German regulator BaFin last year, allowing it to serve customers across the European Economic Area. Austria’s FMA separately authorized Bitpanda GmbH to provide custody, exchange, order execution and other crypto services in April 2025.