“Bitpanda Expands in Europe – Norway License

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Bitpanda has already obtained licenses in several European countries, including Austria, Germany, France, Czechia, and Sweden.

Bitpanda, headquartered in Vienna and recognized as one of Europe’s largest cryptocurrency exchanges, has achieved a notable milestone. It has become one of the pioneering foreign entities to be granted a license as a virtual asset service provider in Norway. This announcement was made through the official Bitpanda X (formerly known as Twitter) account on October 19.

Bitpanda’s portfolio of licenses extends across various European jurisdictions, encompassing Austria, Germany, France, Czechia, and Sweden. According to Lukas Enzersdorfer-Konrad, the Deputy CEO of Bitpanda, this registration represents yet another stride in the company’s European expansion journey. He emphasized the need for a trusted investment platform in Europe, stating, “It is evident that we, in Europe, require an investment platform we can have faith in. Bitpanda is committed to being that platform. Over the past year, we have achieved the distinction of being the sole European provider to secure licenses in Germany, Sweden, and now Norway. With over 4 million users, we empower Europe’s leading financial institutions and neobanks to offer digital assets.”

In May 2023, Norway, a nation outside the European Union, indicated its intention to chart an independent path in the realm of crypto asset regulation. The country’s central bank, in its annual report, conveyed doubts about the adequacy of the forthcoming pan-EU Markets in Crypto-Assets (MiCA) regulation, suggesting it might not sufficiently address all of Norway’s crypto regulatory requirements.

In the midst of these developments, numerous major cryptocurrency exchanges continue to grapple with regulatory challenges imposed by European authorities. For instance, in September, Gemini, headquartered in New York, decided to exit the Netherlands, citing its inability to meet regulatory standards. The challenges aren’t confined to the European Union’s jurisdiction, as the United Kingdom’s Financial Conduct Authority recently added 143 new entities to its warning list of unregistered asset providers.