• European fintech Bitpanda welcomes the new rules on the registration requirements for virtual asset service providers as introduced by the 17th February 2022 MEF Decree. 

  • The rules that are based on the European Union’s fifth AML directive (AMLD5) and the Financial Action Task Force guidelines for crypto firms will strengthen crypto market integrity and provide necessary legal certainty. 

  • In line with its distinctive play-by-the-rule approach, Bitpanda also announces it will register at the Organismo Agenti e Mediatori.

Europe’s leading investment platform Bitpanda warmly welcomes the establishment of the Italian register for operators in the virtual currency sector, to which it will register according to the timeframe provided by the new regulations.

The Italian Ministry of Economy and Finance has in fact, with a special decree, established a special section of the computerised public register, kept by the Organismo agenti e mediatori (OAM), dedicated to the registration of all subjects who intend to exercise the “services related to the use of virtual currency and digital portfolio services”.

Initially offering cryptocurrencies, Bitpanda has been working on enabling the public to easily invest in a wide range of digital assets by building an investment platform used by millions of people across Europe.

With state-of-the-art security, a streamlined user experience and a strong focus on regulatory compliance in all markets where the company operates, Bitpanda has grown into a popular investment platform available with 24/7 access and trusted by new investors, professionals and institutions alike.

Bitpanda arrived in Italy in May 2021. Since then, the company noticed increased demand from Italian users, and has opened an office in Milan with a growing local team led by Orlando Merone as Country Manager.

Orlando Merone, Country Manager Bitpanda Italy, says:

“Bitpanda has grown a lot in the last few years and now boasts more than 3 million users in Europe. This growth has always taken place in full compliance with all regulations and pursuing a long-term business approach, without short-term tactics. For this reason, we warmly welcome the new Italian rules for all virtual currency operators. We are convinced that 2022 can be a turning point year for the fintech sector and, in particular, for investment platforms: the new rules, both Italian and European, and the changed macroeconomic context will increasingly allow the end user to see eye-to-eye in a crucial sector for the future.”

Bitpanda is registered and licensed with several regulators in Europe: Registered with the Austrian Financial Market Authority (FMA) in accordance with the Austrian Anti-Money-Laundering Law , as well as with the French Autorité des Marchés Financiers (AMF) and under the respective PACTE law, Bitpanda became well-known leading the industry with regulatory compliance.

The company and its subsidiaries received multiple licences including a licence as a payment institution in accordance with European regulations (PSD2) in April 2019 and the  EMI (Electronic Money Institution) licence in March 2022 and a MiFID II licence since February 2021 In total, it has enabled the Group the introduction of innovative payment options and digital assets transcending crypto trading.

Furthermore, Bitpanda is fully compliant with AMLD5, the directive stipulates that operators of platforms through which cryptocurrencies are traded, as well as providers of wallets for cryptocurrencies, are obliged to execute stricter customer verification requirements under the terms of anti-money laundering law.