1 year ago
Crypto speech and custody level Bitpanda announced connected Nov. 22 that it had received a crypto trading licence from Germany’s Federal Financial Supervisory Authority. According to Bitpanda, securing a licence means it has go the “first European retail concern level to conscionable BAFIN’s strict regulatory requirements.”
New License Strengthens Bitpanda’s Position
Austrian crypto speech level Bitpanda has secured “a crypto custody and proprietary trading licence for crypto assets from the German Federal Financial Supervisory Authority (BAFIN).” According to Bitpanda, securing the licence means the crypto speech has go the “first European retail concern level to conscionable BAFIN’s strict regulatory requirements.”
In a statement, Bitpanda said the licence allows it to widen its crypto custody and crypto assets trading services to German residents. Commenting connected his company’s caller milestone, Eric Demuth, CEO of Bitpanda, said:
Receiving the licence successful Germany is the effect of galore months of hard enactment connected the portion of the full Bitpanda squad and took adjacent practice with the squad astatine BAFIN. It strengthens our presumption arsenic a pioneer successful presumption of regularisation successful Europe and highlights yet again however well-positioned we are successful this area. We privation to springiness our customers a safe, unafraid and elemental mode to invest.
According to Demuth, Bitpanda has much breathtaking announcements to travel earlier the extremity of the year. Founded successful 2014 by Demuth, Paul Klanschek, and Christian Trummer, Bitpanda is already registered with Austria’s Financial Market Authority (FMA) and France’s Autorité Des Marchés Financiers (AMF).
In the Czech Republic, Bitpanda is registered arsenic virtual assets work supplier (VASP) and it besides holds the PSD2 payments supplier license. In summation to securing approvals to run successful Austria and the Czech Republic, Bitpanda, which reportedly has a valuation of $4.1 billion, has ineligible support to run successful Sweden, Spain, and the United Kingdom.
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Terence Zimwara
Terence Zimwara is simply a Zimbabwe award-winning journalist, writer and writer. He has written extensively astir the economical troubles of immoderate African countries arsenic good arsenic however integer currencies tin supply Africans with an flight route.
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