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Bitpanda Secures First Major MiCAR License from Germany's BaFin for 27 EU Countries, OKX Gains MiCA Approval for 400 Million Europeans

Jan 27, 2025, 11:26 AM

Bitpanda, a major European cryptocurrency platform with 4 million users in 2023 and 6 million in 2024, has become the first large-scale crypto firm to secure a MiCAR license from Germany's Federal Financial Supervisory Authority (BaFin). This license enables Bitpanda to expand its operations across all 27 EU countries under a unified regulatory framework. The MiCAR regulation is seen as a critical step for the cryptocurrency industry, setting new standards for transparency, security, and compliance. Bitpanda's CEO, Eric Demuth, stated that this milestone allows the company to offer secure and regulated services to over 450 million people in Europe, unlocking unprecedented growth potential. Bitpanda's proactive approach to regulation is demonstrated by its 17 existing licenses, including a PSD2 license for electronic money and a MiFID II license. Additionally, OKX has announced it is the first global exchange to receive a MiCA license, which will allow it to offer its cryptocurrency products, including over 240 tokens and 260 trading pairs, to 400 million Europeans.