Bitpanda's Local Subsidiary Acquires German Crypto License
Bitpanda Acquired German Crypto License
Bitpanda Asset Management GmbH claimed in a news release that it may now autonomously offer cryptocurrency custody and proprietary trading for cryptocurrency assets for German citizens due to the license from the German Federal Financial Supervisory Authority (BaFin).
Furthermore, Bitpanda would be able to keep an order book and actively offer services for digital currencies, helping to generate a secure and regulated environment for German consumers to participate in a diverse variety of cryptocurrencies, the business stated.
EU to Control Crypto Issuers and Operators
The crypto business is still suffering from its most recent blow, the collapse of the massive crypto exchange FTX, and authorities globally are keenly monitoring it. The European Union, of which Germany is a part, just completed its extensive framework for controlling cryptocurrency producers and network operators seeking to operate in any of the 27 member nations of the trade union.
The European Union's Markets in Crypto Assets (MiCA) should be the worldwide standard for cryptocurrency regulation, according to Stefan Berger, the German legislator in charge of guiding the legislative proposals through the European Parliament after FTX declared bankruptcy in the United States.
